Business

$3.5 billion furniture, paper and forestry products exports made in the first 8 months

Ahmet Gulec, the president of Istanbul Furniture, Paper and Forestry Products Exporters Association stated that the sector made $3.5 billion export in the first 8 months of 2020 and furniture export covers $2.1 billion of the total value. Gulec said:

‘’ Turkish furniture is the world’s 13th biggest industry with $12 billion worth production potential. Pandemic negatively affected furniture production and export; yet we have been recovering from the effects since June. The August furniture export increased by 5 percent compared to August 2019 and we expect this increase in the remaining months of 2020 too. Turkish furniture sector exports 37 percent of it’s products and also gets high demand from domestic market. We expect furniture export to be valued at $4 billion and domestic sale value to be 60 billion liras by the end of 2020.’’

Furniture export to USA increased by 6 percent

Gülec expressed that the furniture industry exported the most to Germany, England, Saudi Arabia, Iraq and Libya in the first 8 months of 2020, he said:

‘’ Furniture market is especially valued by USA, the world’s biggest furniture importer with $40 billion value, our efforts and operations towards USA furniture market have yielded.  Furniture export to USA in the first 8 months increased by 6 percent in spite of the pandemic. We reversed our bad export numbers with China, the second most important furniture market. Our exports to China between June and July increased by 150 percent. Our activity in Israel and France market also increased; we see that advanced markets have increased their export share. Our goals are maintaining our improvements and increasing our China and USA exports in spite of the pandemic effects. ”

Gulec emphasized that Turkish Furniture Exporters have already 1.4 percent share in foreign furniture trade and that they plan to increase this share to 2.5 percent, to reach $10 billion export value in 2023.

Virtual trade delegation to Israel, Australia and South Korea will be organized

Gulec stated that virtual trade delegations are started by Istanbul Furniture, Paper and Forestry Products Exporters Association and will also be carried out in the pandemic period, Gulec said:

‘’ We have already decided Israel, Australia and South Korea virtual trade delegations for this year. We virtualized our trade delegations which are organized to show the design power of Turkish furniture, to catch new business connections and to increase the current share we get from the market. We will organize a virtual trade delegation to Israel on September 14-16 with our infrastructure that ensures the continuation of the negotiations at maximum efficiency and without any problems. We will organize virtual trade delegation to Australia on October 14-16, then we will have operations for South Korea.’’

source: AA / translated by Bazaar Team

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