2015 Has Been A Very Challenging Year For The Turkish Chemical Industry

2015 was a very difficult year for the Turkish Chemical Industry. The chemical industry completed 2015 with an export of 15,5 billion dollars. Making a statement on the subject, İKMİB Chairman of the Board Akyüz said, “2015 was a difficult year for both our exporters and our industrialists. However, despite all these experiences, chemistry still continues to be the third largest exporting sector in Turkey.

From Istanbul Chemicals and Products Exporters' Association (IKMIB), the chemical exporter, who felt the negative effects of economic and political uncertainties throughout the year, left behind a difficult year.

Completing 2015 with exports of 15 billion 469 million dollars, the sector ranked third after automotive and ready-to-wear and apparel. While chemical exports decreased by 13,28 percent in value compared to the previous year, the amount increased by 12,59 percent and reached 17,3 million tons.

The locomotive of the Turkish economy, the chemical sector, made the most exports to Egypt, Iraq and Germany last year. The United Arab Emirates, Italy, Iran, Spain, Saudi Arabia, Greece and the United Kingdom were listed as other top 10 countries.

Exports to Singapore increased by 245%

A closer look at the countries revealed that the year-round exports to Singapore reached 245 million dollars with an increase of 178 percent. In this period, exports to European countries increased by 34 percent, accounting for $8 billion in total chemical exports.

In the last month of 2015, there were remarkable developments especially in exports to European countries. While Egypt, Germany and Italy took place in the top three, these countries were followed by Saudi Arabia, Greece, Iraq, Iran, USA, Netherlands and United Arab Emirates.

Greece was one of the prominent countries with an increase of 115 percent compared to the same month of the previous year. Exports to Greece rose to 53 million dollars. There was an increase of 64 percent in exports to Italy, 63 percent to the Netherlands, and 49 percent to Saudi Arabia.

On the other hand, exports to the USA increased by 41% and amounted to 45 million dollars. Singapore broke a record with its export growth rate of 581 percent in December.

'We felt the negative impact of slowing down'

Akyüz evaluated the year 2015 by stating that uncertainties left their mark on the year.

Stating that 2015 was not easy for both exporters and industrialists, Akyüz continued as follows:

“We felt the negative impact of the slowdown in the global economy throughout the year. Despite the increase in our exports in terms of quantity, we experienced a decrease in value due to the euro-dollar parity. However, despite all these experiences, chemistry still continues to be the third largest exporting sector in Turkey. In 2016, we again faced an equation with many unknowns. We have entered a year where we need to minimize the unknown.

Developments on the Iraqi, Egyptian and Russian fronts are of particular interest to us. The Middle East and China pose a threat not only to chemistry but also to other industries. We continue our target-oriented export strategy in spite of all the foreign-sourced adversities. Markets such as South America, Sub-Saharan Africa, Far East and Asia are under our close follow-up. As Turkey, there are places where we do not sell any products. We are researching countries with high potential on the basis of sub-sectors. In 2016, we will continue to bring our companies together with these countries through both fairs and trade delegations.”

Chemical Exports Have Dropped Big in September

Source : World

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