Turkish exports reached 19 billion dollars in May, up 15.2 percent over the same month a year earlier, according to figures from the Turkish Exporters Assembly.
Turkish exports reached 19 billion dollars in May, up 15.2 percent over the same month a year earlier, according to figures from the Turkish Exporters Assembly (TIM). The highest May export total ever was attained with the aforementioned sum.
In the January-May period of this year, exports increased by 20.4 percent compared to the same period of the previous year, reaching 102.5 billion dollars.
The textile and raw materials sector continues to gain value in the export market in Turkey. Moreover, the sector, which crowned this value with 4.4 billion dollars, also broke a 5-month record. The sector recorded an increase of 11.2 percent in the January-May 2022 period compared to the same period of the previous year. It is also one of the expectations that the sector will maintain this value in the second quarter of the year.
According to the data of the Turkish Exporters Assembly (TIM), the textile and raw materials sectors exported more than 743 million dollars in May last year. In the same period of this year, export of the sector increased by 3.2 percent to 767 million dollars.
316 million dollars of the sector's exports in May were made from Istanbul. Gaziantep followed Istanbul with 132 million dollars and Bursa with 87 million dollars.
The fast bonanza of the textile and raw materials industry has once again demonstrated the importance of textiles. The hopes for the sector were brought forth. While the expectations for exports are high, expectations for the textile and raw materials sector are also increasing.
Italy received 73 million dollars worth of imports from the textile and raw materials industry in May. Following Italy in the ranks is the United States with 45 million dollars and Spain with 44 million dollars.
EU countries ranked first in-country groups with the highest export volume of 316 million dollars in May. The Commonwealth of Independent States came in second with 117 million dollars. African countries ranked third with 99 million dollars.
The textile and raw materials sector exported to 166 countries and regions in May. It also counted for a 4 percent share of the country's total exports in the same period.
He stressed that the sectoral trade and procurement committees are still working to connect Turkish businesses with international brands.
Among the Exporters' Associations in the USA, there is only one export fair organized specifically for the fabric industry. He stated that they will organize this sectoral fair, which is called the I of the World-New York fair.
He announced that this fair, which will add incredible movement to the market's diversity, will be held on July 20–21. Thanks to this fair, it is predicted that the dynamism in the export share in the past years will continue this year as well.
He emphasized the expectations by saying, “We foresee that we will easily reach exports of over 1 billion dollars to the USA this year with the effect of the fair we will hold.”
The importance of fairs draws attention as innovative studies continue to increase the share in exports and market diversity. While the size of Turkey's place in exports is in sight, its rise in textile is also promising.
Ahmet Öksüz, President of Istanbul Textile and Raw Materials Exporters' Association (İTHİB), mentioned last year's export figures. He reminded that last year, the Turkish Textile Industry broke Turkey's Republican historical record in exports. He also stated that they expect another record at the end of this year. He emphasized that they are continuing their goals for this record without slowing down. Öksüz stated that the works in the textile sector were accelerated: “We made a good start to 2022.”
Ahmet Öksüz stated that it was clear from the first months that Turkey's success in the textile industry would go further. And he emphasized:
“In the first 5 months of 2022, we exceeded the export value of the previous month and reached the Republic's history records every month. At the end of the year, we aim to achieve 15 billion dollars in exports. At the end of this year, we aim to increase exports to at least 85 percent of our export markets. "
He claimed that they were still working on sustainability, the industry's top goal and agenda item. He emphasized the importance of delegations and fairs that will provide market diversity in exports and projects that will increase added value. In addition to these, he said that they aim to make Turkish textiles a world brand in the medium term with promotional activities.
And Öksüz concluded by saying that they aimed to be one of the top 3 exporters in the world.