Turkey’s Electricity Sector - Data Additions Highlight

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 3^rd quarter annual cycle and lowest in the 1^st and 4^th 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.

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