Industry index shows Turkey is doing well

In spite of the comments made as to Turkey’s economy is extremely dependent on foreign funds and the industry has not been showing the progress it should, statistical figures announced by the Istanbul Chamber of Commerce show a totally different picture.

According to a survey conducted by the Istanbul Chamber of Industry, or ISO, Turkey’s industrial development index hit a record high in 13 years to reach 130.9 points in the first half of 2011.

The survey indicated that the index is expected to increase further to as high as 138.8 points for the second half of this year.

It was expressed in a press meeting on Friday that the increase in the index highlighted a growth of 11.4 percent in the country’s manufacturing industry in the first half of 2011, compared to the second half of 2010,

It is also known that the administration is targeting to change the composition of the industry in regards to type of production made by motivating the sector to shift towards goods with much more added value – such as electronic goods etc.

August 19, 2011

SOURCE: HURRIYET DAILY NEWS