ECONOMIC FLUCTUATIONS IN TURKISH TEXTILE AND APPAREL INDUSTRIES, 1992-2011

There exists a large body of literature that deals with socio-economic aspects of textile and apparel industries and their macroeconomic development (such as economic fluctuations). We would like to contribute to the debate by addressing two important questions which adopts a different perspective: First, are textile and apparel industries less stable than other sectors in Turkey? Second, are textile and apparel industries among the leading industries that experience the economic crisis and recoveries before the national economy? Two interesting results emerge from our analysis. First, textile and apparel industries follow a more volatile growth pattern than other industries. Second, textile and apparel industries experience the economic crisis and recoveries approximately 2-9 months earlier than national economy.