The export climate index showed no significant change in February with a reading of 51.1. The index indicated improvement for the 14th consecutive month. In February, the Istanbul Chamber of Industry (ISO) Turkey Manufacturing Sector Export Climate Index stood at 51.1. The results for February of the ISO Turkey Manufacturing Sector Export Climate Index, which measures activity conditions in Turkey’s main export markets, have been released. All figures above the threshold value of 50 in the index signal improvement in the export climate, while values below 50 indicate a deterioration. According to the results, the ISO Manufacturing Sector Export Climate Index, which was 51.2 in January, did not show a significant change in February with a reading of 51.1, indicating that strengthening in export demand conditions continues. Additionally, with the February data, the uninterrupted improvement trend in the export climate for Turkish manufacturers has reached 14 months. Among the economies surveyed last month, Saudi Arabia saw the fastest growth in activity. Although the growth rate in the country was slightly weaker compared to the 18-month peak seen in January, it maintained a strong trajectory. In the United Arab Emirates (UAE), non-oil economic activity increased and gained limited momentum compared to the previous month. Looking at other Middle Eastern countries, production increased in Kuwait and Lebanon while remaining stable in Egypt and declining in Qatar.

The most pronounced contraction in February was recorded in France, which accounts for 4% of the Turkish manufacturing industry’s export market. Production in the country declined significantly, with this decline occurring at the highest rate in over a year. In other regions of Europe, a more complex picture emerged. Economic activity slightly declined in Germany, remained unchanged in the United Kingdom, and while production decreased in other important markets such as the Netherlands and Romania, growth was seen in Italy and Spain. Expansion in Italy was measured at the highest rate in the past 9 months. Economic activity in the United States continued to grow, reaching 25 consecutive months of expansion. However, the increase in February was quite moderate and the lowest rate recorded since April 2024. Lastly, the newly published Pakistan Manufacturing PMI indicated a strong monthly increase in production in February. The country’s production has been on an upward trend since the index’s inception in May 2024.