Ankara: Trkiye's industrial production expanded 8.3% year-on-year in June, achieving the highest level in 16 months, according to the Turkish Statistical Institute (TurkStat).

According to Anadolu Agency, out of the 12 sub-sectors measured, 10 recorded annual increases, while two saw declines. The high technology index saw a significant rise of 88.2%, capital goods increased by 20%, and manufacturing rose by 9.5% compared to June of the previous year. However, the durable consumer goods index decreased by 1.4% annually, and the electricity, gas, and steam index fell by 1.1%.

On a monthly basis, the overall industrial production expanded by 0.7% in June. In the monthly figures, six sub-sectors posted rises, while the other six saw declines. High technology production surged by 38.1%, capital goods rose by 4.8%, and the electricity, gas, steam index gained 1.9%. Conversely, production in mining and quarrying decreased by 5%, durable consumer goods fell by 4.4%, and medium-high technology was down by 3.5% in June.

Trkiye's Trade Minister Omer Bolat evaluated the data, emphasizing that the industrial production index reached its highest level in the last 16 months on an annual basis in June. Bolat highlighted that the index rose to 5.5% in the second quarter of this year, indicating a strengthening in growth performance. He noted in a written statement that the Turkish economy, which grew by 2% in the first quarter, is expected to achieve even stronger growth in the second quarter.