ICI Türkiye Export Markets Climate Index posts 50.2 in April

• 08.05.2026
• News

Istanbul Chamber of Industry Türkiye Export Markets Climate Index ticked down to 50.2 in April. The index signalled a twenty-eighth consecutive monthly strengthening of the export markets demand climate, but one that was only marginal and the least pronounced in this sequence.

Two key sources of growth in April were the US and UK, which combined account for 12.5% of Turkish manufacturing exports. The US saw output rise at a slightly faster pace than in March, while the UK posted a renewed expansion following broadly unchanged activity levels in the previous month. Germany saw output fall back into contraction in April. Other eurozone economies also saw demand conditions worsen. Reduction in activity in Kuwait was the most marked of all economies covered by the PMIs in April.

The Istanbul Chamber of Industry (ICI) Türkiye Export Markets Climate Index, which measures the business conditions in the key export markets of the Turkish manufacturing sector, released the results of the index for April 2026. 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 Markets Climate Index ticked down to 50.2 in April from 50.3 in March. The index signalled a twenty-eighth consecutive monthly strengthening of the export markets demand climate, but one that was only marginal and the least pronounced in this sequence.

Two key sources of growth are the US and UK

Two key sources of growth in April were the US and UK, which combined account for 12.5% of Turkish manufacturing exports. The US saw output rise at a slightly faster pace than in March, while the UK posted a renewed expansion following broadly unchanged activity levels in the previous month. The single largest export market – Germany – saw output fall back into contraction in April, however. Business activity decreased for the first time in just under a year. Other eurozone economies also saw demand conditions worsen in April. Output fell in France and Spain, while Italian firms posted no change in business activity over the month. More positively, Netherlands manufacturing production increased solidly.

A renewed expansion of output in S. Arabia; the most marked reduction in activity in Kuwait 

Turning to the Middle East, the UAE posted a slightly stronger rise in non-oil business activity than was the case in March, but the rate of growth was still relatively muted. Meanwhile, Saudi Arabia saw a renewed expansion of output and slower falls were seen in Qatar and Lebanon. The reduction in activity in Kuwait was the same as that recorded in March as the country’s airspace remained closed for the majority of the month. In fact, the fall in Kuwait was the most marked of all economies covered by the PMIs in April. The sharpest expansion in output during the month was in Uganda, just ahead of Singapore and India. These economies account for relatively small proportions of Turkish manufacturing exports, however.

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

“The economic impacts of the war in the Middle East were felt around the world in April and export markets demand improved to the smallest degree in almost two-and-a-half years as a result. The coming months therefore look set to be challenging for Turkish manufacturers looking to sell products abroad, even if there is a swift resolution to the conflict.”

You can find attached the Istanbul Chamber of Industry Türkiye Export Markets Climate Index April 2026 reports.