International PPI increased by 58.4 percent year-on-year in December 2023

foreign trade deficit

The Foreign Producer Price Index (FPPI) increased by 2.28 percent in December 2023 compared to the previous month and by 58.4 percent compared to the same month of the previous year.

Turkish Statistical Institute (TUIK) announced the D-PPI data for the period of December 2023.

Accordingly, D-PPI increased by 2.28 percent in December compared to the previous month, 58.4 percent compared to the same month of the previous year and 50.92 percent compared to 12-month averages.

Looking at the annual changes in the two sectors of the industry, 60.92 percent increase was seen in mining and quarrying and 58.35 percent in manufacturing. Considering the annual changes in the main industrial groups, intermediate goods increased by 51.29 percent, durable consumer goods by 62.73 percent, non-durable consumer goods by 63.44 percent, energy by 55.06 percent and capital goods by 66.37 percent.

The monthly changes in the two sectors of the industry were calculated as 2.64 percent increase in mining and quarrying and 2.28 percent increase in manufacturing. In the monthly changes of the main industrial groups, intermediate goods increased by 1.98 percent, durable consumer goods by 3.31 percent, non-durable consumer goods by 2.3 percent and capital goods by 4.04 percent, while energy decreased by 3.32 percent.

Compared to annual D-PPI, 10 sub-sectors showed lower and 15 sub-sectors showed higher changes.

Among D-PPI sectors, paper and paper products, wood and cork products (excluding furniture), printing and recording services and printing and recording services increased by 40.87 percent, 43.5 percent and 44.99 percent, respectively. On the other hand, manufactured goods and furniture increased by 71.4 percent and 71.2 percent, respectively.

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