ICI Türkiye Export Climate Index Posts 51.3 in July

• 08.08.2025
• News

The Istanbul Chamber of Industry (ICI) Türkiye Manufacturing Export Climate Index posted 51.3 in July, signalling modest strengthening in export demand conditions, and one that was the most pronounced since March. The export climate has now improved on a monthly basis throughout the past 19 months. 

The US, the second-largest single market for Turkish manufacturing exports, posted a strong growth in business activity during July, the strongest in 2025 so far. Non-oil business activity in the UAE grew substantially. The same was true in Saudi Arabia and Kuwait. A solid expansion was recorded in Spain, while more modest growth was registered in Germany, the UK, Italy and the Netherlands. Russia posted a second successive monthly fall in output, while the most marked increase in business activity was again in India. 

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

The Istanbul Chamber of Industry Türkiye Manufacturing Export Climate Index ticked up to 51.3 in July from 51.0 in June. The latest reading signalled a modest strengthening in export demand conditions, and one that was the most pronounced since March. The export climate has now improved on a monthly basis throughout the past 19 months. 

Sharpest expansion in the US, output increases in Europe

The US posted a sharp and accelerated expansion in business activity during July, with the pace of growth the strongest in 2025 so far. The US is the second-largest single market for Turkish manufacturing exports. The marked increase in output in the US meant that the world’s largest economy joined the Middle East as a key source of improving demand. Non-oil business activity in the UAE grew substantially again in July, albeit at a slightly slower pace than in June. The same was true in Saudi Arabia and Kuwait. Over in Europe, increases in output were seen in a number of key export destinations. A solid expansion was recorded in Spain, while more modest growth was registered in Germany, the UK, Italy and the Netherlands. On the other hand, further reductions in output were seen in France and Romania, which combined account for 7% of Turkish manufacturing exports.

Contraction deepens in Russia; the most marked increase in business activity is again in India

Russia moved deeper into contraction territory in July, posting a second successive monthly fall in output and one that was the sharpest since October 2022.

India continued to register the most marked increase in business activity of the economies covered by the report. The rate of growth ticked up from June and was at a 15-month high. The sharpest decrease in output in July was seen in Taiwan, where the pace of contraction was the fastest since August 2023. Marked reductions in activity were also recorded in Poland and Kenya. 

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

“July saw improving demand conditions in most of the top ten export destinations for Turkish manufacturers. Particularly welcome for firms was a marked expansion in the US, where growth was the fastest in 2025 so far. As global trade uncertainty abounds, it is a positive sign for Turkish exporters that their main sources of external demand are generally seeing business activity improve.”

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