Business

Turkey: The industrial sector broke the record in the Republic’s history in exports

The industrial sector realized the highest first-quarter foreign sales in the history of the Republic with $45 billion 247 million in January-March 2022. The exports of 12 out of 16 sectors within the industry broke a record in the first quarter.

Despite the risks stemming from the Russia-Ukraine war and the increase in raw material and energy costs, the industrial sector achieved the highest first-quarter export in the history of the Republic with $45 billion 247 million in January-March 2022.

While losses were experienced in the exports of sectors in Turkey to Russia and Ukraine due to the war, cancellations and postponements in orders in the first quarter were among the main factors that negatively affected exports to the two countries.

The fact that exporters turned to alternative markets with the start of the war helped to compensate for the losses originating from Russia and Ukraine. With the strategy of “increasing market diversity”, which sector representatives always apply, the industry continued to break records in exports.

The industrial sector, which completed the last year with a historically high level of exports, continued its success with exports of $45 billion 247 million in January-March 2022. The exports of the industrial sector, which broke a record in the first quarter, increased by 21.8%.

The share of the sector in Turkey’s exports was 75.1%.

12 SECTORS REACHED A HISTORICAL PEAK IN EXPORTS

The exports of 12 out of 16 sectors within the industry broke a record in the first quarter.

In this period, textile and raw materials exported $2 billion 650 million, leather and leather products $502 million 962 thousand, chemical materials and products $7 billion 510 million, ready-made clothing and apparel $5 billion 458 million, electricity-electronics $3 billion 528 million, machinery and accessories $2 billion 439 million, ferrous and non-ferrous metals $3 billion 810 million, steel industry $5 billion 694 million, cement, glass, ceramics and earthenware exports reached a record high of $1 billion 297 million, the jewelery industry $1 billion 283 million, the defense and aerospace industry $961 million 73 thousand, and the air conditioning industry $1 billion 613 million.

In the first quarter of this year, compared to the same period of 2021, textile and raw materials increased by 13.1%, leather and leather products by 27%, chemical materials and products by 41.5%, ready-made clothing and apparel by 16.2%, electrical-electronics by 9%, machinery and parts 15.1%, ferrous and non-ferrous metals 48.2%, steel industry 51%, cement, glass, ceramics and earthenware 28.3%, jewelry industry 30.6%, defense and aerospace industry 48.6%and the air conditioning industry increased by 15.9%.

MOST DEMAND FOR INDUSTRIAL PRODUCTS FROM EUROPE

The highest demand for sub-sectors within the industry came from European countries.

In this period, the textile and raw materials sector made the highest export sales to Italy with $296 million 719 thousand.

The highest demand was $984 million 182 thousand for ready-made clothing and apparel, $43 million 319 thousand for leather and leather products, $252 million 475 thousand for machinery and accessories, $549 million 908 thousand for ferrous and non-ferrous metals, $174 million 989 thousand for air conditioning industry, and the demand came from Germany.

The Netherlands with $568 million 606 thousand in chemicals and products, the United Kingdom with $408 million 428 thousand in the electricity-electronics sector, and Israel with $470 million 760 thousand in the steel sector.

USA; became the biggest buyer in cement, glass ceramics and earthenware products with $210 million 545 thousand, in the jewelry industry with $258 million 698 thousand, and in the defense and aerospace industry with $219 million 306 thousand.

On a provincial basis, companies from Istanbul made the most exports in the industrial sub-sectors. In the first quarter of the year, textiles and raw materials worth $1 billion 19 million, ready-made clothing and apparel worth $3 billion 741 million, leather and leather products worth $342 million 901 thousand, machinery and accessories of $791 million 187 thousand, $2 billion 112 million of ferrous and non-ferrous metals, $605 million 196 thousand of air conditioning industry, $3 billion 887 million of chemicals and products, $1 billion 823 million of electricity-electronics, $2 billion 788 million of steel, $607 million 971 thousand of cement, glass, ceramics and soil products, $1 billion 94 million of jewelry, $525 million 747 thousand of defense and aviation exports were realized.

Source: Sabah / Translated by Irem Yıldız

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