Page 13 - TURKRptJun21

Turkey’s liquefied petroleum gas (LPG) imports decreased by 17.31% y/y to 191,911 tonnes in February. LPG production dropped sharply by 34% y/y to 59,000 tonnes.
Turkey produced 3.4mn tonnes of crude steel in March, marking a 9.2% y/y increase.
The country’s steel consumption rose by 14.7% y/y to 3.1mn tonnes.
Local producers increased shipments of steel to foreign markets by 32.5% y/y to 1.6mn tonnes while export revenues leapt nearly 75% y/y to $1.1bn.
In the first three months of 2021, the country’s crude steel output grew 9.5% y/y to 9.8mn tonnes.
Despite the adverse effects of the COVID-19 pandemic, domestic consumption increased 16% y/y to 8.9mn tonnes.
The industry’s export revenues expanded by 29% y/y to stand at $2.7bn in January-March.
“In the face of the global uncertainties, companies in Turkey stocked up on steel products, which boosted local demand,” said Veysel Yayan from TCUD.
Turkey’s automotive production increased by 845% y/y in April.
4.2 Inflation
“It's absolutely out of question that the TUIK is playing with the numbers and that the inflation rate is 30-40%,” Finance Minister Lutfi Elvan said on May 6.
Turkey’s official construction costs index rose by 32% y/y in March following February’s increase of 26% y/y.
m/m, %
ENAG
Official
ENAG/Official
USD/TRY
Commodities (BCOM)
Sep-2020
3.61
0.97
3.72
5.02
-3.36
Oct
2.56
2.13
1.20
8.15
1.40
Nov
3.43
2.30
1.49
-6.19
3.50
Dec
4.08
1.25
3.26
-4.97
4.97
Jan-2021
2.99
1.68
1.78
-1.74
2.62
13 TURKEY Country Report June 2021 www.intellinews.com