Turkiye’s construction material industry production completed 2023 with an increase of 5.7%, in parallel with the growth of the sector.
February results of the Turkish Construction Material Manufacturers Association (Turkiye IMSAD) Monthly Sector Report have been announced.
According to the report, the construction industry completed 2023 with 7.8% growth on an annual basis. Construction activities in the earthquake zone and urban transformation and infrastructure activities that accelerated before the local elections were effective in this increase.
Similar growth was also seen in construction material industrial production. Construction material industrial production, which started the first quarter of last year slowly with an increase of 1.2% due to the impact of the earthquake, grew by 1.4% in the second quarter, 13.5% in the third quarter and 7.4% in the last quarter. Annual growth was 5.7%.
While production increased in 14 sub-sectors last year compared to 2022, it decreased in 8 sub-sectors. During this period, the highest production increase was in metal structures and building parts with 29.7%. Metal door and window production increased by 27.7%, wooden construction material production by 20.2% and ready-mixed concrete production by 14.2%.
The highest decline in production was experienced in construction glass with 12.1%, followed by ceramic coating materials with 12%.
NEWLY RECEIVED CONSTRUCTION ORDERS DECREASED IN FEBRUARY
New construction orders, which started the year quickly, maintained their high course even though they decreased by 0.2 points in February compared to the previous month. The construction industry has begun to see new supply/demand balances and cost/price levels that will emerge in the sector as a result of new economic policies. An increase in orders is aimed with the urban transformation permits obtained before the local elections.
The construction sector confidence index, which exceeded 100 points in January, continued to rise. The acceleration of urban transformation works was effective in the rise of the index, which increased by 3.4 points in February compared to January.
Source: Patronlardunyasi / Prepared by Irem Yildiz