Türkiye’s trade sales contract in January as construction sector leads turnover surge

Türkiye’s trade sales volume increased by 5.3% year-over-year in January but declined by 4.1% on a monthly basis, while the construction sector led the total turnover index, which surged by 35.4% during the same period, the Turkish Statistical Institute (TurkStat) reported on Tuesday.

According to the Trade Sales Volume Index for January, on a monthly basis the volume of:

• Motor vehicle and motorcycle trade, repair, and retail fell by 3.3%
• Wholesale transactions declined by 6.7%

On a yearly scale:

• Motor vehicle and motorcycle sales dropped by 5%
• Wholesale activity grew by 4.1%

Retail sales, however, saw an upward trend, recording a 12.5% year-on-year increase and a 2% monthly rise in January.

Sharp surge in construction revenue

According to another TurkStat report released Tuesday, the calendar-adjusted total turnover index for the industry, construction, trade, and services sectors jumped by 35.4% year-on-year in January.

The construction sector recorded the most significant growth, with the calendar-adjusted turnover index soaring by 54.2% year-on-year and increasing by 10.2% monthly.

On a monthly basis, the total turnover index increased by 1.6%.

The turnover performances of other sectors are as follows:

• In the industrial sector, the calendar-adjusted turnover index rose by 25.6% annually, while it declined 0.2% from the previous month.
• Trade turnover index climbed by 35.9% annually, while it saw a 0.6% monthly increase.
• In the services sector, the turnover index surged by 47.6% year-on-year, while it grew 5% monthly.