The ongoing global pandemic has hit Turkey at a time when its economy was just starting to rebound from the 2018 currency and debt crises. In our effort to facilitate nowcasting analyses using Macrobond, we are continuously increasing our coverage of high frequency data. Just this week, we added daily series of electricity consumption, production, imports, and exports for Turkey. Electricity consumption in Turkey has risen rapidly as a result of its social and economic development. With this addition, we can investigate change in Turkey’s electricity sector but also use it as a measurement for economic activity in other sectors including industrial production.
In the chart below, we’ve plotted the daily electricity consumption and production with a one month moving average. The chart shows that consumption is usually at its highest during the 3rd quarter annual cycle and lowest in the 1st and 4th quarter. Using Macrobond’s analytics, we’ve also added the YoY% drop in consumption and production as a text box on the y-axis.
In the chart above, we can see that there was a small gap between electricity production and consumption in 2016. The chart below shows how much electricity Turkey was importing and exporting during the same period. Imports have been decreasing considerable since 2016 as Turkey increased its production to match its demand.
Using our regression tool, we plotted a scatter chart with the YoY% change of electricity consumption as the independent variable and industrial production as the dependent variable. The result shows that an increase in industrial production follows an increase in electricity consumption as expected.
Below, you can find all of the data that we’ve added to the Macrobond database in the past two weeks.
Data Additions by Country / Region
Business Impacts of COVID-19
Increased coverage of Industrial Production by Economic Activity
Increased coverage of Industrial Production by Industry
Daily Coal Consumption of Major Power Plants
Fixed-Assets by Sector (Macrobond Estimated)
Fixed-Assets by Status of Registration (Macrobond Estimated)
Gross Output Index of Agricultural-Related Industries
Gross Output Value of Agricultural-Related Industries
Investment of Insurance Industry
Agriculture & Livestock Production
Industrial Production, Weights
- Saudi Arabia
Labor Force Participating in Labor Market Policy Services
Operating Statistics of Singapore Airlines
- South Korea
Employment by Scale of Company
Increased coverage of Imports by Type (Korea Customs Service)
Real Growth Rate of GDP & Expenditures
RMB Business, Remittances
Central Government Budget, Social Security Fund
Consolidated Central Government Budget
Consolidated General Government Budget
Consolidated Local Government Budget
General Government Expenses by Economic Activity
Increased coverage of Quantity of Exports Classified by Product Group
Electricity Production & Consumption (MWh)
Number of Enterprises