Business

$23 billion export in Turkish building materials in the first 9 months of the year

In the January-September period, Turkish building materials sector exports increased by 50% compared to the same period of the previous year and reached $23 billion. In the said period, the highest export was made to the United Kingdom with $1.49 billion.

The increase in exports continues in the building materials sector, which is one of the sectors with the highest current account surplus in Turkey. The exports of the sector increased by 50% in the January-September period this year compared to the same period a year ago, and were calculated as $23 billion.

In the same period, the product group with the highest increase in value was the iron and steel-based product group with 68.15%. In the first nine months of the year, the most exported country was the United Kingdom with $1.49 billion. The United Kingdom was followed by the United States and Germany, respectively.

EXPORTS INCREASED BY 56% IN SEPTEMBER

The upward momentum of the Turkish building materials industry in exports was also reflected in the September figures. The sector realized an export of $3.2 billion last month. This figure means an increase of 56.19% compared to a year ago. The sector made the highest export to the United States of America with $217 million in September. Romania ranked second with $199 million in exports, while Germany ranked third with $194 million.

Istanbul Ferrous and Non-Ferrous Metals Exporters’ Association (IDDMIB) Board Member and Turkish Building Materials Sector Committee Chairman Serdar Urfalilar said that the upward momentum in exports continued this month as well.

Pointing out that the biggest problem limiting Turkey’s potential is the foreign trade deficit, the people of Urfalilar said, “While our total exports as an industry were $21.8 billion in 2020, the amount of exports we made in the January-September 2021 period is $23 billion. If we maintain this performance until the end of the year, we are very close to breaking a new export record as an industry.”

Source: NTV / Translated by Irem Yildiz

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