Page 25 - TURKRptDec22

4.0 Real Economy 4.1 Industrial production
Turkey: Production indicators
y/y, %
2021
Q1
Q2
Jul
Aug
Sep
Q3
Oct
Nov
Dec
Q4
2022
Official GDP Growth (y/y, %)
11.0
7.3
7.6
-
-
-
-
Electricity Consumption (watt, y/y, %)
12.4
4.6
1.2
-6.0
-2.4
-0.8
-3.1
-3.7
Employed (active, mn people)
27.0
27.9
29.7
-
-
-
28.5
Industry (≈20% of GDP, y/y, %)
16.6
7.4
7.8
-
-
-
-
IndustrialProductionIndex(unadjusted)
16.5
10.3
10.7
3.2
4.1
0.4
2.5
Vehicle Production (unit, y/y, %)
-0.3
-12.6
16.2
34.4
-13.1
19.4
10.1
6.6
CrudeSteelProduction(tonnes,y/y,%)
12.9
-4.7
-3.0
-20.7
-21.0
-19.4
-18.6
-17.8
White Goods Production (unit,y/y,%)
16.7
-3.5
-7.8
-4.3
0.9
2.5
0.1
2.5
Steelmaker Cemtas Celik Makina Sanayi ve Ticaret (CEMTS) suspended production at its meltshop and rolling mill from November 18 to November 23, citing the need to use resources more effectively and efficiently in the current market environment.
Cemtas’ meltshop and rolling mill capacities are 193,200 tonnes/year and 207,400 tonnes/year, respectively. Production on the company’s stabiliser bar line was to continue at normal levels in respect of its 4,550 tonnes/year capacity.
Ceramics and tiles producer Ege Seramik (EGSER) halted production on some lines as of October 1 due to a lack of new orders. Its production would decline by 1.5mn square metres (m2) in 4Q22, equivalent to 25% of 3Q22 production capacity and 6% of annual production capacity.
Ege Seramik said it was also evaluating austerity measure options to overcome impacts of the coronavirus (COVID-19) pandemic, the Ukraine war, supply chain problems, booming raw material costs and uncontrollable energy price hikes.
Since 2020, Turkish companies have been pressured into halting production lines due to interwoven crises (as outlined by Ege Seramik above).
On September 2, Izmir Demir Celik (Izdemir/IZDMC) said that it halted one shift at its steel mill (33% decline in production) and two shifts at its rod rolling mill (66% decline in production).
In June, Ege Gubre (EGGUB) suspended compound fertiliser production for an indefinite period.
Since March 2021, vehicle producers in Turkey have suspended production multiple times due to the impact of the global shortage of semiconductor chips.
In January, right across industries there were alternate production stoppages of at least three days due to natural gas and electricity cuts.
25 TURKEY Country Report December 2022 www.intellinews.com