Export climate hits 52-month high

Demand conditions in export markets improved at a faster pace for the fifth consecutive month, while the index remained above the 50 threshold for every month since January 2024. Output increased in nine of the Turkish manufacturing sector’s ten largest export markets. Economic activity in the US expanded at its fastest pace in more than five years, while production growth continued in Germany, the UK, Italy, Spain, Romania and the Netherlands. Poland remained an exception, recording a contraction in manufacturing output.

Alongside signs of recovery in Europe, positive developments were also observed in Middle Eastern markets. The United Arab Emirates recorded the strongest output growth among the economies surveyed, while economic activity expanded in Saudi Arabia, Kuwait and Lebanon. In contrast, output continued to decline in Qatar, while Egypt experienced the sharpest contraction in the survey. Andrew Harker, Economics Director at S&P Global Market Intelligence, said the acceleration in global economic activity continued throughout the third quarter, with improvements in the US and Europe supporting export demand. The data indicated strengthening demand conditions in Turkish manufacturers’ overseas markets despite ongoing global uncertainties.