EXPORT CLIMATE INDEX UP IN APRIL

The Istanbul Chamber of Industry (ISO) Turkey Manufacturing Export Climate Index, which measures the contributions of the country ’s manufacturing industry to primary export markets, increased by 0.5 points from 53.9 points to 54.4 points in April compared to the previous month. The latest data pointed to a significant improvement in foreign demand conditions of manufacturers while the improvement slightly increased in April compared to March. Thus, the export climate has strengthened over the past 15 months. Economic activity grew in the top eight export destinations of products manufactured in Turkey. The economic activity dropped for the second successive month in Russia due to the war and sanctions. However, the decline was slower in April than in March.