Turkey: Ready-to-wear exports will exceed $20 billion

Despite the global demand shrinkage caused by the Covid-19 epidemic, restrictions in important markets, and a serious decrease in consumption in some sectors, the export family continued its success in many sectors.

Ismail Gulle, President of the Turkish Exporters’ Assembly (TIM) said, “Our ready-to-wear industry has succeeded in exporting $793.6 million to the United States, with an increase of 23% last year. We expect ready-to-wear exports, which were $ 17.14 billion in 2020, to exceed $20 billion this year.”

According to TIM’s statement, the export family continued its success in many sectors, despite the contraction in global demand caused by the new type of coronavirus (Covid-19) epidemic, restrictions in important markets, and a significant decrease in consumption in some sectors.

TIM is the sole umbrella organization of 61 exporters’ associations, 27 sectors, and 100 thousand exporters. It continues to work to achieve the goal of Turkey, which has a foreign trade surplus. Despite the difficult conditions of the epidemic, last year’s exports were over $165.9 billion, which was the New Economy Program 2020 export target.

Turkey’s 2020 exports were $169 billion 514 million. Exports of $184 billion were targeted this year, which is the first year of the new normal. Ready-to-wear was the third among all sectors with an export figure of $17 billion 143 million last year.

The sector exported the most to Germany with $3.1 billion.

“We have high expectations in ready-to-wear”

Speaking at the Ready-to-Wear and Apparel Sector Board Meeting held in Bursa, TIM President Gulle said, “In the last quarter of 2020, we carried our exports over $50 billion. We need to maintain this tempo. At this point, we have great expectations from our ready-to-wear industry, which has achieved significant success in the last months of 2020. The all-time export record is $1 billion 850 million, which our industry reached in October, reveals that we can do much better.”

“Sector exports to the USA was $793.6 million”

Gulle stated that although the exports of the sector experienced a small decrease in 2020, it was $17.14 billion and the share of ready-to-wear in the country’s exports exceeded 10%.

Stating that the ready-to-wear industry has succeeded in increasing its exports in the 8th of last year’s 12 months, Gulle said, “In 2020, the ready-to-wear industry among the countries where it exports more than $100 million; it has succeeded in increasing its exports to Canada by 50% to $100.8 million, to $221.4 million with an increase of 38% to Kazakhstan, to $124.6 million with an increase of 25% to the Czech Republic and to $793.6 million with an increase of 23% to the USA.”

“We expect it to exceed $20 billion this year”

Expressing that they expect the ready-to-wear industry exports to exceed $20 billion this year, Gulle said, “Our ready-to-wear industry has managed to export $793.6 million to the United States, with an increase of 23% last year. We expect it to exceed $20 billion a year.”

Gulle noted the following:

“In this sense, on the one hand, the agreement signed with the United Kingdom, our second-largest market in total and our third-largest market in the ready-to-wear sector, will eliminate uncertainties, and on the other hand, the pandemic will be alleviated with vaccination. In our previous meetings, I stated that there are 3 different scenarios ahead after Brexit and the most advantageous scenario for us is that our country will sign a Free Trade Agreement with the UK under favorable conditions as soon as possible.

As a result of the studies we have carried out as TIM, I have also said that in the case of non-negotiated Brexit and WTO tariffs, the ready-to-wear sector will be the sector that will be the most affected with a $200 million tariff. This risk has disappeared today. Every time we met with our Minister, we expressed the importance of the issue to them. Thanks to great effort, before the year ends, an agreement was signed with the UK in a way that would eliminate all uncertainties. On the other hand, the fact that we are among the countries with which the post-EU UK signed the first Free Trade Agreement reveals our strength in this market and the size of the role assigned to our country in supply.”

“Turkey’s role is increasing”

Stating that they started to see that the expectation of increasing the role of Turkey in global supply chains is appropriate, Gulle said, “Not only in ready-made clothing but in every sector, buyers have started to diversify in supply. At this point, in order to maintain our competitive power, focusing on high quality and value-added production will enable us to get a much larger share in the global supply of ready-to-wear. As the field soldiers of exports, we will continue to work under all difficult conditions, as we did during the pandemic.”

Source: AA / Translated by Bazaar Times Team

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