ISTANBUL 

The Turkish economy saw a 30.2% annual rise in total turnover in January, according to the latest data released on Friday.

The industry and trade sectors posted an increase of 40.5% and 33.2%, respectively, year-on-year in January, the Turkish Statistical Institute (TurkStat) said.

The services sector registered an annual increase of 8.2%, followed by a 3.7% rise in the construction index.

On a monthly basis, the seasonally and calendar-adjusted total turnover index was up 2.1% in January.

“Industry increased by 1.7%, construction increased by 8.6%, trade increased by 2.4%, and services decreased by 0.2% on a monthly basis in January 2021,” the authority said.

According to TurkStat, turnover is an important short-term indicator used to assess the country’s economic situation.

Turnover indices are made up of sales of goods and services invoiced by enterprises in the reference month over a certain period to monitor developments on a quarterly and yearly basis, it said.

All enterprises that declare their value-added tax to the Turkish Revenue Administration are included in the turnover index calculation.

Copyright 2021 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.