AMID THE GLOOM, ENCOURAGING SIGNS IN INDUSTRY
To be able to determine long term industrial trends we looked at the annual averages. The graph shows the annual average monthly value of the seasonally- and calendar-adjusted manufacturing industry as a percentage. If the manufacturing industry is the heart of production, intermediate power goods exports. Ensuring competitive advantage, exports
provide a good remedy for countries like Turkey, which has a current account deficit, budget deficit and net short position.
Production of non-durable consumer goods is among the hardest hit. The only reason for this is that we have completely lost our global competitive advantage in this segment. On the other hand, the production of durable consumer goods is positive. The incentives and mass production advantage creates a single production segment where regional giants such as Arcelik, BSH and Vestel can grow both organically and inorganically. The same companies are at the forefront in terms of industry 4.0 practices. When analyzed according to production characteristics, low, medium-low and medium-high talent production all show declines. Our only rising production segment is high quality production. Although recent declines are a bit frustrating, Turkey’s potential trend here is close to perfection. Industry will be life-saving for Turkey when a longterm industrial policy is set, high speed train lines are built and connected with ports and Turkey is prioritized as a transport hub. Industry is the only thing that will solve the gap in income distribution, pull us out of the producer-consumer price gap in food products.