AKMİB Achieves Double Success in Third Quarter

AKMİB Records Double Success in Third Quarter Saadettin Çağan, Chairman of the Board of AKMİB (Mediterranean Chemicals and Chemical Products Exporters Association), announced that they achieved USD 5.62 billion in exports as of the third quarter of 2022. Highlighting that they achieved a 65.45% increase compared to the same period of the previous year between January and September, AKMİB Chairman Saadettin Çağan said, "Among the 8 associations affiliated with AKİB (Mediterranean Exporters Associations), we rank at the top both in value and in export volume growth. We recorded significant export increases in distant markets such as Jamaica, Togo, Singapore and Argentina." Emphasizing the importance of the success achieved between January and September, which was marked by fluctuations in exchange rates, increases in energy costs, sharp movements in commodity prices and the effects of the war between Russia and Ukraine, Chairman Saadettin Çağan congratulated the AKMİB export family and sector stakeholders. Chairman Çağan expressed his condolences to the mine workers who lost their lives in the explosion at the coal mine in Bartın Amasra, offered his sympathy to their families and wished a speedy recovery to the injured.

"We need support to minimize the risks in the last quarter of the year"

  Chairman Çağan stated that they closely follow global economic developments and that the energy supply shortage due to the war between Russia and Ukraine, and the continuation of increases in raw material and energy costs are deepening concerns about stagnation in the global economy. "In an inflationary world, current account deficits, budget deficits and foreign trade deficits are now becoming much more dangerous. We foresee serious risks for our exports in the last quarter of the year. We will continue to work to overcome this difficult period with minimal or least damage. However, in order to minimize these risks, it is of great importance to facilitate access to financing for companies operating in our sector and to provide greater support," he said. Mineral fuels and mineral oils account for 64.5% of regional exports Evaluating AKMİB's January-September 2022 exports by product groups and countries, Chairman Çağan stated: "In the first nine months of the year, our association brought 8.042 million tons of products to international markets, reaching the highest export value in mineral fuels and mineral oils during the said period. In this product group, which accounts for 64.5% of regional exports, we reached a value of USD 3.63 billion with an 88.4% increase. Plastics and plastic articles ranked second with a 64% increase and USD 699.9 million in value, and inorganic chemicals ranked third with a 42.17% increase and USD 298.6 million in value. When we evaluate AKMİB's third quarter export performance by countries, we see that we have achieved record-level export increases in Jamaica, Togo and Singapore markets. In addition to these markets, we achieved significant increases in our exports to France, Argentina, Ghana and Norway. In our nine-month exports, South Africa ranked first with a 671.2% increase and USD 995.3 million in value, the Netherlands ranked second with a 41.8% increase and USD 840.5 million in value, and Spain ranked third with a 126.5% increase and USD 333.6 million in value. During the same period, we achieved the strongest increases in export volume in Jamaica with a 98,411% increase and USD 11.5 million in value, Togo with an 11,745% increase and USD 59.8 million in value, and Singapore with a 5,915% increase and USD 210 million in value," he said.