Turkey's Export Climate Index climbs to 50.3 in May as Europe weakens, US grows

The Istanbul Chamber of Industry (İSO) released the May 2026 Export Climate Index for Turkey's manufacturing sector at 50.3, up from 50.2 in April and returning to March levels. This marks the 29th consecutive month the index has stayed above the 50‑point threshold, indicating an improving export climate.

The index notes that Germany, France and the United Kingdom together account for about 19 % of Turkish manufacturing exports, and production in all three European economies contracted during the month. Other European markets such as Romania, Russia, Italy and Spain also showed mixed or declining trends. By contrast, the United States recorded continued expansion, extending a 40‑month growth streak, albeit at a slower pace than in April.

Middle‑East economies displayed signs of recovery after the regional conflict that began in February. The United Arab Emirates posted its strongest non‑oil production growth in three months, and Saudi Arabia also saw an acceleration in output. Smaller markets such as Singapore, India and Kenya were mentioned with varied performance.

Andrew Harker, S&P Global Market Intelligence’s Economic Director, said overall export demand remains stable but regional differences are pronounced, and that ongoing geopolitical tensions will likely keep international demand constrained in the short term.