Chemicals Became the Industry with the Highest Growing Exports in February
According to data provided by Istanbul Chemicals and Chemical Products Exporters Association (İKMİB), exports of the chemicals sector reached 2.4 billion dollars in February. Exports of the industry increased 43.97 percent compared to February of last year. Two-monthly exports of the industry increased by 37.26 percent and exceeded 4.5 billion dollars.
Chairman of the Board of Directors of Istanbul Chemicals and Chemical Products Exporters Association (İKMİB) Adil Pelister evaluated February export numbers of the chemicals industry and said: “Our country grew by 11 percent in 2021. In exports, which contributed
4.9 points to growth, our chemical industry broke a record as the second sector with exports reaching 25.4 billion dollars. After January this year, our industry exports increased by 43.97 percent in February compared to the same month of last year and amounted to 2.4 billion dollars. The exports of our industry increased by 37.26 percent in the two-month period this year, reaching 4 billion 543 million dollars. Our chemicals industry maintained its position as the second largest exporter in February. In addition, it became the first among the sectors that increased its exports the most. The top three industries that we exported the most in February were plastics and its products, mineral fuels, mineral oils and products, and inorganic chemicals. The top three countries to which we exported the most were Germany, Italy and Netherlands. In order for our industry and our country to achieve sustainable growth, it is necessary to focus on high value-added domestic production, which adopts green transformation. Recently, increasing energy costs and commodity prices all over the world continue to rise due to the Russia-Ukraine crisis. As the
chemicals industry, which is 70% foreign-dependent in terms of raw materials, we follow these developments closely. In order to prevent being affected by these problems, the support of our state for our sector such as VAT, SCT reduction, and reduction of energy costs are of great importance.
Recently, 60 billion CGF packages were announced. In addition, Export Promotion Inc, which was established by TIM and Eximbank to provide special support and surety to exporters, started its activities as of this month. We hope that these supports, which are important for our exporters, will increase and that more of our companies will benefit from these supports.”
In February Germany Became the Highest Receiver of Exports
Germany became the highest receiver of exports in February. Other countries that followed the Germany and occupied the top ten in February were Italy, Netherlands, Lebanon, France, the USA, Morocco, Iraq, Spain, and Britain. In February exports to Morocco increased the highest among the top ten countries with 277.64 percent.
Chemicals export to Germany reached 131 million 690 thousand dollars in February and increased by 53.89 percent compared to the same period of last year. The top five products groups that were exported the most to Germany in February were “plastics and products,”
“rubber, rubber products,” “pharmaceuticals,” “various chemical agents,” and “essential oils, cosmetics and soap”.
“Plastics and Products” were the Highest Exported Sub-Sector in February
In February, exports of plastics and products in chemical substances and products product group ranked first in chemical exports with 846 million 948 thousand dollars. Mineral fuels, mineral oils and products took the second place with an export of 526 million 823 thousand
dollars, while exports of inorganic chemicals occupied the third place with 237 million 776 thousand dollars. Following ‘inorganic chemicals’, other sectors in the top ten were ‘rubber, rubber products’, ‘essential oils, cosmetics and soap’, ‘pharmaceuticals’, ‘paint, varnish, ink
and their products’, ‘various chemicals’, ‘organic chemicals’ and ‘fertilizers’.
In February, the highest increase in exports in sub-industries was realized in the fertilizers group with 134.72 percent.
