Chemicals Rank as Turkey's Second-Largest Export Sector

Chemistry Sector Second-Largest Export Contributor According to data from the Turkish Exporters Assembly (TİM), Turkey's exports in April declined 17.2 percent year-on-year to USD 19.3 billion. The chemistry sector, which achieved USD 2.4 billion in exports during April, ranked as the second-largest exporting sector. The sector's exports for the first four months of the year reached USD 9.8 billion. The chemistry sector accounted for 12.5 percent of the country's total exports in April. Adil Pelister, Board Chairman of the Istanbul Chemical Substances and Products Exporters Association (İKMİB), commenting on the chemistry sector's April export figures, stated: "Our chemistry sector's exports reached USD 2.4 billion in April. Although we experienced a slight decline in exports during April, we have maintained our position as the second-largest exporting sector. The decline in April can generally be attributed to the drop in oil prices, restrictions on fertilizer exports, and the continued demand slowdown resulting from global economic policies. In April, we achieved the highest exports in plastics and plastic products, mineral fuels, mineral oils and products, and inorganic chemicals. Our top three export destinations were Russia, Italy, and Romania. Our exports for the first four months reached USD 9.85 billion. Our exports over the last twelve months exceeded USD 32 billion with approximately 12 percent growth. Looking ahead, we expect production and exports to increase starting in May, supported by the reductions in natural gas prices for industrial use. Although the effects may not be immediate, I believe we will see the results by the end of the first half," he said. Russia was the leading export destination in April. Following Russia in the top ten destinations in April were Italy, Romania, Slovenia, Spain, Germany, the United States, Iraq, the Netherlands, and the United Kingdom. In the January-April period of 2023, the leading countries for chemistry exports ranked in the top ten as follows: Russia, Italy, the Netherlands, Spain, Germany, Romania, the United States, Iraq, Lebanon, and the United Kingdom.

Plastics and plastic products led exports in April

In April, plastics and plastic products ranked first in chemistry exports among chemical substances and products with USD 732,397 thousand. Mineral fuels and products ranked second with USD 622,710 thousand in exports, while inorganic chemicals ranked third with USD 251,303 thousand. Following inorganic chemicals, other sectors in the top ten were essential oils, cosmetics and soap; pharmaceutical products; rubber and rubber goods; paints, varnishes, inks and preparations; miscellaneous chemical substances; organic chemicals; and washing preparations.