Capacity Utilization Rates Announced in the Chemical Industry

Capacity Utilization Rates in the Chemical Industry Have Been Announced. The capacity utilization rate of the chemicals and chemical products manufacturing industry increased by 3,1 points to 77,3 percent in August compared to July, and decreased by 5,5 points compared to the same month of the previous year.

According to the "Manufacturing Industry Capacity Utilization Rate" data published by the Central Bank of the Republic of Turkey (CBRT) for August 2013, the capacity utilization rate of the chemicals and chemical products manufacturing sector decreased by 5,5 points compared to the same month of the previous year and became 77,3 percent.

While the capacity utilization rate in the sector increased by 3,1 points compared to July, it ranked 10th among the dual sectors with the highest capacity utilization rate.

Murat Akyüz, Chairman of the Istanbul Chemicals and Products Exporters' Association (İKMİB), said in a statement to the AA correspondent that they expect to rank first in exports in August, surpassing automotive, and said that the increase in the capacity utilization rate compared to July stemmed from this.

Noting that despite the problems in the surrounding countries, there has not been a significant increase in oil, but there may be an increase in oil only due to the increase in the exchange rates in the country, Akyüz said, "Apart from this, there is nothing that affects Turkey in terms of production."

Akyüz stated that in the beginning, very serious disaster scenarios were written for Turkey and that the chemical industry was one of them, and continued as follows:
“There were catastrophic scenarios, such as the troubles in the surrounding countries would increase the oil very seriously, which would harm the chemical industry, which exports 80%. None of these took hold. We continue production as both raw materials and semi-finished products. Due to the increase in the exchange rates, the production of semi-finished products in Turkey was preferred more. This is one of the biggest effects of the increases compared to last month.”

The rise in the dollar
Stating that the rise in the dollar was a long overdue inflation correction, Akyüz said, "Associating this with the Gezi Park events or any other event will not benefit any of us, and the exchange rate around 1,95 will support exports in Turkey as long as it does not cause very sudden increases." he said.

Explaining that imports have gained strength in recent years and that the main reason for this is exchange rates, Akyüz said:

“Although the Central Bank tried to help seriously, unfortunately, for a year, the exporter suffered serious damage due to the exchange rates. Records in previous years could have been broken much more. The biggest reason why they couldn't be broken is the worm. Now the dollar has made its historical peak, this is how morale is broken. But breaking these morale will also break the morale of the importer. Bigger importers will also look for the way to produce these products in Turkey, not the way to bring them from abroad. In this respect, I think it will contribute to Turkey industrially.”
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