In the construction materials industry, an all-time monthly record was broken in terms of both value and amount, with the exportation of 5.94 million tons of construction materials worth $2.45 million in March.
The March results of the Construction Materials Industry Foreign Trade Index of the Turkish Construction Material Industrialists Association (Turkey IMSAD) were announced.
Accordingly, the improvement in the markets and the increasing demand brought new records. The weakening in foreign trade, which started in March 2020 due to the epidemic, was replaced by an increase this year.
March saw an all-time monthly export record in terms of both quantity and value. In the said month, $2.45 billion worth of 5.94 million tons of construction materials were exported.
Construction materials industry exports performed well in anticipation of recovery in the markets. Increasing demand in foreign markets is expected to continue until the end of the year.
The average annual export unit price of the construction materials industry increased by 24.2% in March compared to the same period last year. The March 2020 average price dropped significantly in the epidemic environment. The export unit price per kilogram was $0.41 in the previous month. The increase in commodity prices raised the export unit price. It is seen that the increase in demand continues in the markets with vaccination and recovery expectations.
IMPORTANT INCREASE IN IMPORTS
Imports of construction materials rose to $815 million in March. It has seen the highest import value since March 2018. Imports increased to 293,770 tons in quantity.
While the import unit price per kilogram was $2.56 in March 2020, it rose to $2.78 in the previous month. Import unit prices were also affected by the global commodity price increases.
INCREASE IN EXPORT OF ALL SUB-PRODUCTS
In March, there was an increase in value in all 8 sub-sectors of construction materials. The highest export increase was in wood and wood products with 74.5%, followed by chemical-based products with 54.5%.
Export unit price rose in 7 out of 8 sub-product groups. The price in question rose 23.1% in mineral, stone and soil products, 18.5% in iron and steel, 16.9% in electrical materials and equipment, and 72.9% in prefabricated buildings. Wood and wood products, on the other hand, decreased by 11.1%.
On the basis of quantity, there was an increase in 7 out of 8 sub-product groups in exports. The highest export volume increase was in wood and wood products with 97.5%, followed by metal-based products with 33.7% and chemical-based products with 33.4%. There was a 21.2% decrease in prefabricated buildings.
Source: Sabah / Translated by Irem Yildiz