Chemical Industry Closed October with a Decline in Exports

The Chemical Industry Closed the Month of October with a Decline in Exports. According to the data of Istanbul Chemicals and Products Exporters' Association (IKMIB), chemical exports in October amounted to 2,93 million 1 thousand tons with a decrease of 374 percent compared to the same month of the previous year, and 4,84 billion 1 million dollars with a decrease of 244 percent in value. Chemical exports in the 10 months of the year were 11 billion 554 million dollars in value. The main reasons for the decrease in exports are; The continuation of the problems in the surrounding countries, which are among the most important markets of chemistry, and the decline in export prices.
Chemical industry Despite the contraction experienced in October, it continued to contribute to the country's economy by maintaining its third place among the sectors with the highest export volume, with an export of 1 billion 244 million dollars, after the automotive and ready-made clothing and apparel sectors.

The countries to which the sector has exported the most in the last month are respectively;

Egypt, Iraq, Germany, Italy, United Arab Emirates, Iran, Spain, Singapore, Saudi Arabia and England.

While the increase in exports to Egypt continued in October, exports to Singapore reached 2 million 39 thousand dollars with an increase of 201 thousand and managed to be among the top 10 countries.

Looking at the chemical export figures in October on the basis of sub-sectors, the plastics and products exports, which are in the first place, are 11,29 percent; value decreased by 12,76 percent. In the last month, exports of Plastics and Products were 187 thousand tons in amount and 408 million 479 thousand dollars in value compared to the same period of the previous year. In this period, the 10 countries with the highest plastic export are; Iraq, Germany, England, Iran, Israel, France, Italy, Bulgaria, Romania and Egypt, while export losses were noted in countries other than Israel and France.

In addition to Plastics and its products, exports in different sub-sectors of chemistry such as cosmetics, paint and rubber also decreased.

January-October period exports of the chemical industry amounted to 13 million 711 thousand tons; value was 11 billion 554 million dollars. In this period, chemical exports were 2015 percent on amount compared to the similar period of 1,29; decreased by 10,33 percent in value basis. Top 10 countries in chemical exports in the ten-month period; Germany, Egypt, Iraq, Iran, Italy, England, USA, Greece, Netherlands and Saudi Arabia.

Stating that the developments in exports cannot be evaluated independently of the global economy, Istanbul Chemicals and Products Exporters' Association (IKMIB) Murat Akyüz, Chairman of the Board of Directors, said, “The developments in the surrounding countries directly affect our exports. October figures make this clear. The contraction in world trade and the decline in export prices also reduce our export performance. Although exports on the basis of quantity are almost the same as last year, we are experiencing significant losses in value. We need to increase our unit export prices and the added value we create. The starting point of the blockage in exports is technology, R&D and accelerating branding investments.

Chemistry is one of the strategic sectors of the Turkish economy with the highest added value creation power. We find the new export supports of our government very positive. The decision to triple the support given to exports and to give a green passport to the exporter is important in this respect. As chemical exporters, we are looking for alternatives to the markets where we are losing, and on the other hand, we are taking steps that will contribute to the increase in the added value in our exports. With an approach that embraces the different production branches of our industry, our national participation organizations, trade and purchasing delegations continue uninterruptedly in important international fairs. This year We are performing the 6th of the Chemistry R&D Project Market. In addition to our support for design, which is as important a component of added value as R&D, we also do not slow down in our promotional activities.”

October 2015 ( $ ) October 2016 ( $ ) Difference
1.307.286.582,45,68 -4,84

Source : turkchemonline

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