Turkey's 8-Month Furniture Exports Reach $3.1B

The Furniture, Paper, and Forest Products industry contributed $5.45 billion to Turkey's exports in the first eight months of the year. The exports of the furniture industry reached $3.11 billion. 

The Turkish Exporters Assembly (TIM) revealed Turkey's export results for August 2022. The furniture, paper, and forestry products industry boosted its exports by 21.2 percent in August and earned 733.1 million dollars. Turkey reached an export of 5.5 billion dollars in the first eight months of the year, with a 26.4 percent growth rate. According to the Istanbul Exporters' Associations (İİB), Turkey continues to maintain its steady growth in different sectors with record export figures. 

According to the released figures, Turkey reached the highest August exports of all time. Turkey's international sales increased by 13.2% last month, reaching $21.3 billion. In the January-August period, exports reached 165 billion 672 million dollars. It increased by 18.3 percent. Turkey's exports have surpassed 250 billion dollars in the last 12 months.

The sector of Furniture, Paper, and Forest Products contributes to the Turkish economy through increased investment and export figures. Compared to the same period of the previous year, August exports amounted to 733 million dollars, increasing by 21 percent. The contribution of the Furniture, Paper, and Forest Products sector to Turkey's exports in 8 months of the year was 5.45 billion dollars.

The Most Furniture Export Was Made to Iraq with 337 Million Dollars

The increase in the export share of the furniture sector continues on a monthly basis. The furniture industry also expanded in the first 8 months of the year. It showed success with a rate of 8 out of 8. Exports of furniture, paper, and forestry products in Turkey increased by 21.2 percent from August 2021 to August 2022. It became the 10th most successful sector. In August, a total of 407 million dollars were exported. The 8-month exports of the furniture industry reached $3.11 billion in total. 

The list of the most exported countries in the furniture sector in the first 8 months of the year has been announced. Iraq comes in first place with 337 million dollars. Germany ranks second with 272.4 million dollars. Following Germany, Israel achieved furniture imports of 169.5 million dollars. With $169.3 million, the United States is fourth, and France ranks fifth with $141.7 million on the list. When it comes to countries where the export share has increased, Qatar ranks first with a 74.3 percent growth rate. Furniture exports to Qatar totaled 119.3 million dollars in the first eight months of the year.

The majority of exported furniture products are varied. Bedsteads and cradles for children, furniture for sitting, and wooden furniture for dining and living rooms came to the fore. Metal furniture and furniture for sitting that can be converted into beds were also among the products that stood out.

"The increase in exports is a positive development for the sector’’

Erkan Özkan, President of Istanbul Furniture, Paper and Forest Products Exporters' Association, shared his views on the provided data. He remarked that, in addition to the recessions experienced around the world, global events such as the effects of the Russia-Ukraine war and high energy prices highly impacted trade globally. He stated that in a period when these negative events continued, the increase in exports as a sector was a positive development with which they were pleased.

Erkan Özkan noted that efforts were made for enterprises to expand into new markets outside of their existing ones. These efforts provided considerable contributions to exports. "Additionally, the fair season has begun with the autumn season. And in the coming months, our companies will participate in both domestic and foreign fairs relevant to our sector and will contribute favorably to the performance of furniture exports in the last quarter," he added.

Other Wood Products Sector Is Growing Rapidly

When the August exports were evaluated on a sub-group basis, the furniture product group took first place with an increase of 7 percent. Within the sub-groups, it was observed that there was a 19.1 percent increase in the other wood products group. When the export figures for the January-August period are analyzed, the furniture product group is in the first place. The highest increase was realized in the other wood products product group with 44.6 percent.

In the August exports of the sector, an increase of approximately 28.2 percent was achieved in the paper-cardboard group on a value basis. When the January-August export figures were examined, it was seen that the highest increase was experienced in the other wood products group with 40.5 percent. The furniture group increased by 15 percent as well.  These export figures prove that the Furniture, Paper, and Forestry products sector is one of the rising sectors of Turkey. Turkey will achieve its 12-month target by the end of the year if it maintains its success in the first eight months.