Page 30 - TURKRptOct22

4.0 Real Economy 4.1 Industrial production
Turkey: Production indicators
Electricity Consumption (watt, y/y, %)
Employed (active, mn people)
Industry (≈20% of GDP, y/y, %)
IndustrialProductionIndex(unadjusted)
Vehicle Production (unit, y/y, %)
CrudeSteelProduction(tonnes,y/y,%)
y/y, %
2021
11.0
12.4
27.0
16.6
-0.3
12.9
Jan-22
6.0
-
-
-14.9
Feb
-
5.2
-
-
-9.1
Mar
-
3.4
-
-
-13.8
Q1
7.3
4.6
27.9
7.4
10.3
-12.6
Apr
-
0.5
-
-
2.5
May
-
1.0
-
-
23.2
Jun
-
1.9
-
-
23.9
Q2
7.6
1.2
29.7
7.8
10.7
16.2
Jul
-
-6.0
-
-
34.4
Aug
-
-2.4
-
-
-
-13.1
Sep
-
-0.9
-
-
-
-
Q3
Official GDP Growth (y/y, %)
-
-
-3.1
-
-
16.5
8.2
13.3
9.6
10.4
13.3
8.7
3.1
-
-
-7.8
-3.3
-2.9
-4.7
1.6
-1.4
-13.1
-3.0
-20.7
-21.0
-
-
White Goods Production (unit,y/y,%)
16.7
-12.5
1.4
-0.2
-3.5
-6.5
-9.3
-7.8
-7.8
-4.3
0.9
-
-
Ceramics and tiles producer Ege Seramik (EGSER) was to halt production on some lines as of October 1 due to a lack of new orders, the company said on September 26.
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.
On September 27, the company added in response to investor questions that 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, as a result of the decision to temporarily shut down some production lines.
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. See a full list of major suspensions under section 7.1.1 below.
In January, right across industries there were alternate production stoppages of at least three days due to natural gas and electricity cuts.
30 TURKEY Country Report October 2022 www.intellinews.com