Our Chemical Exports Continue to Grow

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Our Chemical Exports Continue to Grow. The chemical industry broke an export record consecutively in the first three months of 2017. According to the data of Istanbul Chemicals and Products Exporters' Association (IKMIB); Chemical exports in March amounted to percent compared to the same month of the previous year. 36,88 million 1 thousand tons with an increase of 888, and 29,14 billion 1 million dollars with an increase of 543 percent. was realized. Chemical industrys total exports in the first quarter reached 4 billion 131 million dollars. Sector representatives expect the acceleration in exports to continue in the coming months.

Exports of the chemical industry, which is one of the top three sectors that contribute the most to the growth of the Turkish economy, amounted to 2016 million 36,88 thousand tons in March with an increase of 1 in quantity compared to the same month of 888, and 29,14 billion 1 million dollars in value with an increase of 543 percent. In the last month, the top ten countries with the highest exports are respectively; United Arab Emirates, USA, Egypt, Germany, Iraq, Italy, Spain, Singapore, France and Iran.

Exports to the USA are increasing…

The record increase in exports to the USA, one of the most important target markets of the sector, drew attention. Chemical exports to the USA in March reached 321,54 thousand 108 tons with an increase of 004% in quantity and 165,10 million 86 thousand dollars in value with an increase of 648 percent, and these figures brought the country to the second place in the ranking of the countries with the highest exports.

The first quarter figures of the chemical industry, which made a rapid start to the year, also made us happy. In the first quarter, compared to the same period of the previous year, the sector reached 21,66 million 5 thousand tons with an increase of 208 percent in quantity and 23,83 billion 4 million dollars in value with an increase of 131 percent. The top ten countries to which the chemical industry exports the most in the January-March period; United Arab Emirates, Singapore, Germany, Egypt, Iraq, Italy, Spain, USA, Iran and Greece.

Looking at the export figures of the sub-sectors of chemistry in the first quarter, it is seen that mineral oils and their products rank first in exports of 1 billion 229 thousand dollars. While plastics and its products ranked second with 1 billion 227 million dollars of exports, rubber and rubber goods took the third place with 302 million 36 thousand dollars.

Stating that the rise in commodity prices had a positive impact on chemical exports, Murat Akyüz, Chairman of the Board of Istanbul Chemicals and Products Exporters' Association (İKMİB), said, “The acceleration in our exports continued unabated in March as well. As the chemical industry, it is extremely positive that we have achieved an increase of 30 percent in both value and quantity. As industrialists, we are in good spirits and we are taking firm steps towards our goals. Our exporters are working hard. We expect this increase to continue in the coming months. While our increase in exports continues, we need a special effort to overcome the contraction we are experiencing in the country. Unfortunately, VAT-SCT reductions covering several sectors are not sufficient. We believe there is a need for a broader opening that covers all sectors.” said.

Saying that they expect the chemical industry to continue its rise in the USA in the coming months, Murat Akyüz said, “Increasing our exports to the USA has an important place in our 2017 targets. Turkish Trade Centers opened in Chicago and New York will enable our companies to promote themselves in the US market and increase their export potential.

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