It is an obvious fact that the Turkish economy is one of the few economies in the world that has succeeded to bounce back from the devastating effects of the COVID-19 outbreak and to show a robust recovery in 2021.
Recording the highest level since the last 15 years, the Türkiye Manufacturing Export Climate Index, compiled jointly by IHS Markit and the Istanbul Chamber of Industry, rose from 56.0 in April to 58.4 in May 2021. The index has been running above the 50.0 threshold for the fourth month in a series.
Key export destinations of Türkiye such as the UK and the US, accounting for 13 percent of Turkish manufacturing exports, recorded rising economic activity and signaled an improving demand for Turkish goods in May.