Turkey’s consumer technologies market posts limited 7.5% y/y nominal growth in Q1

Turkey’s consumer technologies market posts limited 7.5% y/y nominal growth in Q1
By Akin Nazli in Belgrade June 10, 2019

The technical consumer goods (TCG) market in Turkey grew by 7.5% y/y to TRY14.2bn (€2.17bn) in Q1, a report by GfK Temax showed on June 9.

Major home appliance (white goods) sales increased by 35% y/y to TRY3.48bn in the quarter while small home appliance sales grew by 16% y/y to TRY1.41bn thanks to tax cuts.

Telecommunication equipment sales contracted by 7% y/y to TRY6.49bn in Q1 due to limitations imposed on instalments and lira depreciation while consumer electronics sales also declined by 4% y/y to TRY1.69bn.

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