AKMİB Achieves Exports of $504.3 Million

Mediterranean Chemical Substances and Products Exporters Association Reports USD 504.3 Million in Exports Mediterranean Chemical Substances and Products Exporters Association (AKMİB) Chairman Saadettin Çağan announced that the association achieved USD 504.3 million in exports in August, representing a 57.4 percent increase compared to the same period last year. Chairman Çağan noted that the association achieved record growth in the South African market, which ranks first among the countries with the highest export volumes in August, with an increase exceeding 718 percent.

Emphasizing that the chemical substances and products sector has maintained its leading position in Mediterranean exports for the sixth consecutive month with August's results, Chairman Saadettin Çağan made the following remarks:

"Our sector achieved USD 2.94 billion in exports in August with a 44 percent increase. As AKMİB, we contributed 17.11 percent to this performance. Despite financial and supply chain challenges including energy costs, supply shortages, commodity prices and currency volatility, we continue to work with great effort and dedication to maintain steady export performance. We are also closely monitoring the potential energy and recession crisis in European Union countries where we export the most. Our chemical sector, which supplies inputs to all sectors, has significant expectations particularly regarding access to financing."

August Export Record Driven by South African Market

Evaluating AKMİB's August exports by country, Chairman Saadettin Çağan noted that African, European and Middle Eastern countries stood out, stating: "In August's regional exports, we achieved the highest values in the South African, Italian and Dutch markets. We achieved record growth of 71,863 percent in exports to South Africa, reaching USD 120.1 million. Following this country, Italy ranked second with a 642 percent increase and USD 42 million in value, while the Netherlands ranked third with a 61 percent decrease and USD 41.1 million in value. Apart from South Africa, Lebanon was another country where we achieved record export growth. We reached USD 24.6 million in export value to the Lebanese market with a 2,638 percent increase. We achieved significant export growth in the Spanish, Northern Cyprus Turkish Republic and Iraqi markets."

Mineral Fuels and Mineral Oils Comprised 65.6 Percent of Regional Exports

Noting that Turkish chemical industry, which mainly produces various chemical raw materials and consumer products such as petrochemicals, soap, detergent, fertilizer, pharmaceuticals, paints and varnishes, synthetic fibers and soda, recorded strong performance in plastics and products as well as mineral fuels and oils in August exports, Chairman Çağan stated that mineral fuels and mineral oils was the locomotive product group in Eastern Mediterranean exports. He continued as follows: "When we evaluate August's regional exports by product groups, mineral fuels and mineral oils ranked first with a 60 percent increase and USD 330.6 million in value. This product group comprised 65.6 percent of AKMİB's exports. Plastics and products ranked second with a 47 percent increase and USD 79.7 million in value, while inorganic chemicals ranked third with a 54 percent increase and USD 35.2 million in value. During the period in question, we achieved the strongest performance in export volume with a 231 percent increase and USD 8.8 million in value in chemical fertilizers. This was followed by pharmaceutical products with an 87 percent increase and USD 4.2 million in value, and miscellaneous chemicals with a 75 percent increase and USD 8.4 million in value," he said. AKMİB Chairman Saadettin Çağan added that regional exports reached USD 4.7 billion in the January-August period of 2022 with an 84.8 percent increase.