According to the data of Istanbul Chemicals and Chemical Products Exporters Association (IKMIB), 1 billion 586 million dollars of chemical exports were made in July; this value decreased by 8.5 percent compared to July 2019 and increased by 11 percent compared to June.
According to the statement of IKMIB, the total 7 months of chemical export is valued at 10.15 billion dollars
The countries that chemical industry exported the most in July respectively are Iraq, USA Germany, United Kingdom, Holland, Belgium, Italy, Israel, Romania and Iran.
97 million 192 thousand dollars of export was made to Iraq in July. The exported goods mostly are plastics, essential oils, cosmetics, pharmacy products, paint, ink, varnish, various chemical materials, mineral fuels and oils, fertilizers, glue, enzymes and inorganic chemicals.
The countries that chemical industry exported the most in the first 7 months of 2020 are Holland, Germany, Iraq, Italy, USA, United Kingdom, Spain, Israel, Romania and Belgium.
Plastics goods are exported the most in July
Plastics became the most exported item of chemical industry in July with a value of 588 million 783 thousand 979 dollars. Mineral fuels and oils became the second most exported goods with a value of 196 million 179 thousand 519 dollars; essential oils and cosmetics were the third most exported with a value of 138 million 214 thousand 524 dollars.
The other sectors that are exported the most in July are inorganic chemicals, pharmacy products, rubber, different chemical materials, paint, varnish, ink and organic chemicals.
‘’Chemical industry has opportunities, especially in Latin America.’’
Adil Pelister, the board chairman of IKMIB, said that the July export of chemical industry is nearly valued at 1.6 billion and he said:
‘’ The total 7 months of chemical export is valued at 10.15 billion dollars. We also accomplished at being the secondary sector in the first 7 months. Chemical exports to USA increased by 56.30 percent; USA became the second country that our sector exported the most in July. Chemical industry has opportunities, especially in Latin America; IKMIB gather exporters and buyers together via trade missions.
Our future hopes and expectations regarding the chemical industry are positive; economic indicators also increase our hopes and we are conscious about our responsibilities. Our sector needs to be ready to meet the demand after the post-pandemic period and in order to accomplish that; we should set investments on products with high added value as our priority within the digital transition principles. We are expecting encouragement and support from our government.’’
source: AA / translated by Bazaaar Team