Turkey: Ships and yachts sector saw the most increase in exports

Turkey’s exports in March amounted to $18 billion 985 million with an increase of 42.2% compared to the same month of the previous year, while it was the sector that increased the exports of ships and yachts to 66 countries with a total value of $153 million 993 thousand.

According to the information compiled by the AA correspondent from Turkish Exporters’ Assembly (TIM) data, the ship and yacht sector exports, which were $68 million 798 thousand in March 2020, increased by 123.8% in the same period of this year and reached $153 million 993 thousand.

The share of ship and yacht exports in Turkey’s total exports was 0.9%.

Last month, Yalova realized $108 million 580 thousand of the total export in the ship and yacht sector, where products were exported from Turkey’s 16 cities. This figure corresponded to 70.5% of the total exports of the sector.

Following Yalova, the other cities with the highest exports of ships and yachts were Istanbul with $30 million 695 thousand and Bursa with $7 million 734 thousand.

The highest increase in exports on quantity basis was recorded in Norway

The country with the highest exports of the ship and yacht industry last month was recorded as Norway. In February, $108 million 571 thousand were exported to Norway.

Malta was followed by Malta with $11 million 686 thousand, the USA with $9 million 70 thousand, the United Kingdom with $6 million 718 thousand and Romania with $6 million 480 thousand.

When looking at the change in the export volume of the sector by country, the highest export increase on amount basis was recorded in Norway with $89 million 884 thousand.

Looking at the sub-items of the sector, in March, the biggest contribution to the exports of the sector was the export of ships with $120 billion 939 million 248 thousand, followed by the exports of yachts, boats and boats with $12 billion 470 million 269 thousand.

In March, $7 billion 978 million 774 thousand of marine tankers, $6 billion 621 million 408 thousand of tugboats, $4 billion 826 million 179 thousand of ship sub-industry and $1 billion 157 million 448 thousand of other marine vehicles that are not included in these classifications were exported.

“In the second half of the year, sector exports will increase with a much higher momentum”

Cem Seven, Chairman of the Ship Yacht and Services Exporters Association, made a statement to the AA correspondent and stated that they were pleased to be the sector that increased the exports of Turkey the most in March as the Ship Yacht and Services Exporters Association.

Expressing that monthly periods can be misleading in order to evaluate the export amounts for the ship, yacht and services sector, Seven said:

“In the first months of the year, the opposite was true for our industry. When interpreting export data about our industry, it is useful to approach with wider time intervals. Our industry, which exports marine tankers and yachts in the first two months of the year, started to deliver other main business products, fishing vessels and tugboats, in March.

Although it has not been fully reflected in the figures as of the first quarter of the year, it gives the impression that 2021 will be a successful year in terms of exports for our industry. Many of our shipyards will deliver their orders this year. Especially in the second half of the year, we aim to increase the sector’s exports with a much higher acceleration and to exceed the export amount of $1 billion 375 million realized with a record increase in exports last year.”

Source: AA / Translated by Irem Yildiz

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