Plastik Sanayicileri Federasyonu (PLASFED) Chairman of the Board of Directors Ömer Karadeniz made evaluations regarding the growth data recorded by the Turkish economy in the first quarter of 2026 and the manufacturing industry PMI data announced on the same day. The President of PLASFED, the umbrella organization of the plastics industry, said the following:
The 2.5 percent growth of the Turkish economy in the first quarter of 2026 reveals that the economy continues to show resilience. However, when we look at the details of the growth figures, the fact that the industrial sector has contracted by 0.8 percent is an important development that needs to be evaluated carefully.
Industry is not just a sector, it is the flagship of the economy. Located at the center of production, exports, employment, and technological transformation, industry is the fundamental power that ensures all the wheels in the economy turn. For this reason, every slowdown in industry directly affects growth performance in the medium and long term.
Today, industrialists are struggling with significant challenges such as high financing costs, problems with access to credit, rising energy expenses, and a slowdown in global demand. Despite this, they continue to produce, invest, and create employment. However, for the sustainability of production, policies that support the industry need to be further strengthened.
PMI index rose to 49.8
On the other hand, the Istanbul Chamber of Industry Turkey Manufacturing PMI data announced today also revealed a promising picture for the industry. The PMI index, which was at 45.7 in April, rose to 49.8 in May, reaching its highest level since March 2024. Although the fact that the index is still just below the threshold of 50 indicates that the contraction in the manufacturing industry has not completely ended, it signals that the deterioration in operating conditions has slowed down significantly and the recovery trend on the production side has strengthened. In addition, the fact that export orders increased for the first time in about 21 months stands out as an important development that supports the industry's expectations for the coming period.
As industry strengthens, production will increase
In particular, facilitating access to investment and working capital, offering affordable financing opportunities to producers, reducing energy costs, and taking steps that will increase the competitiveness of exporters are of great importance. As industry strengthens, production will increase, and as production increases, exports and employment will grow.
The 9.5 percent growth in the information and communication sector in the announced data once again reveals the importance of technology investments. However, strong economies are those that support service and technology sectors with a strong production infrastructure. Turkey should also focus on a development model that grows technology and industry together.
As PLASFED, we believe that the way for Turkey to reach its goals of sustainable growth, high value-added production, and global competition passes through the strengthening of the industry. Because when the industry is strong, the economy grows, and when the economy grows, Turkey gets stronger.
This content has been translated using artificial intelligence technology.