ICI Türkiye Export Climate Index rises to 51.2 in January

• 10.02.2025
• News

The Istanbul Chamber of Industry (ICI) Türkiye Manufacturing Export Climate Index Export Climate Index posted 51.2 in January, up from 50.9 in December and signalling a thirteenth consecutive monthly strengthening of export demand conditions. Although modest, this improvement was the most pronounced since August 2024. 

Output in Germany stabilised in January, thereby ending a seven-month sequence of decline. Further expansions in business activity were registered in the UK and US during January, although in both cases rates of growth softened from the end of 2024. Other sources of growth among the top 10 export destinations for Turkish manufactured goods included Spain and Russia, both of which saw output rise solidly. The strongest growth rates were again seen in the Middle East, while the most pronounced reduction in business activity of the economies was in South Africa. 

The Istanbul Chamber of Industry (ICI) Türkiye Manufacturing Export Climate Index, which measures the business conditions in the key export markets of the Turkish manufacturing sector, released the results of the index for January 2025. In the index, the figures above the 50.0 no-change mark signals an improvement in the export climate, while the figures below signals deterioration.

The Istanbul Chamber of Industry Türkiye Manufacturing Export Climate Index posted 51.2 in January, up from 50.9 in December and signalling a thirteenth consecutive monthly strengthening of export demand conditions. Although modest, this improvement was the most pronounced since August 2024. 

Output in Germany stabilised in January, ending a seven-month sequence of decline Germany is the destination for 8% of Turkish manufacturing exports, making it the single largest market. Output in Germany stabilised in January, thereby ending a seven-month sequence of decline. Further expansions in business activity were registered in the UK and US during January, although in both cases rates of growth softened from the end of 2024. 

Other sources of growth among the top 10 export destinations for Turkish manufactured goods included Spain and Russia, both of which saw output rise solidly in January. Less positive were signs of weakness elsewhere, primarily in some key European markets. Italy, France, the Netherlands and Romania all recorded falling output at the start of the year. In particular, the reduction in Romania was the largest in the 19-month series history. The strongest growth rates again in the Middle East

The strongest growth rates were again seen in the Middle East.

The rate of expansion in Saudi Arabia was the fastest for a year-and-a-half, while the UAE posted a further rapid increase in non-oil business activity. Meanwhile, India and Kuwait also posted steep rises in output.

Finally, the most pronounced reduction in business activity of the economies covered by the report was seen in South Africa, where the pace of contraction quickened to the sharpest in three-and-a-half years.

Commenting on the Istanbul Chamber of Industry Türkiye Manufacturing Export Climate Index, Andrew Harker, Economics Director, S&P Global Market Intelligence, said: 

“The start of 2025 saw a continuation of the trends seen towards the end of 2024, with markedly differing performances across some of Turkish manufacturing’s key export partners. With global trade patterns in flux there is a deal of uncertainty about the future, but for now the overall picture is one of improving demand conditions, helping Turkish exporters to pick up business.” 

You can find attached the Istanbul Chamber of Industry Türkiye Export Climate Index January 2025 reports.