İMSAD Foreign Trade Index Results Announced

Türkiye İMSAD Foreign Trade Index results announced Construction materials exports reached USD 2.87 billion in August 2021. August exports represented the second-highest monthly export value since the index began measurement in August 2013. At 5.90 million tonnes in August, exports also represented the second-highest monthly export volume. ISTANBUL (AA) - According to the Türkiye İMSAD Construction Materials Industry Foreign Trade Index results for August 2021, the construction materials industry achieved exports of 5.90 million tonnes and USD 2.87 billion, marking the second-highest monthly export in both value and volume terms since the index began measurement in August 2013. Türkiye İMSAD released the Construction Materials Industry Foreign Trade Index results for August 2021 in an announcement. Accordingly, construction materials foreign trade, which weakened in July due to extended holidays, made a rapid recovery in August. Construction materials exports, which reached a record USD 2.89 billion in June, showed strong performance in August following the weakness experienced in July due to extended holidays. Construction materials exports rose to USD 2.87 billion in August 2021. In value terms, August exports represented the second-highest monthly export since the index began measurement in August 2013. At 5.90 million tonnes in August, exports also represented the second-highest monthly export volume. Construction materials industry exports were positively affected by shifts in global supply chains. In addition, market improvements and recovery continued through August. Demand in foreign markets is expected to continue rising through year-end. The average annual export unit price for the construction materials industry rose 44.1% in August compared to August of the previous year. In August 2020, the average export price was at USD 0.34/kg. In August 2021, the export unit price increased to USD 0.49/kg.

Demand for construction materials from Turkey increasing

According to the information provided, shifts in global supply chains are increasing demand for construction materials from Turkey. Turkey is seeing particularly additional demand from European sources. Market activities, especially in Europe, are also operating quite actively. Increases in global commodity prices are raising the export unit prices of many construction materials. These trends are expected to continue through year-end. Construction materials imports in August 2021 totaled USD 739 million. While imports increased significantly compared to the previous month of July, construction materials imports in August 2021 reached 237,956 tonnes. The import unit price for the construction materials industry rose to USD 3.11/kg in August 2021. This level represents the highest monthly average import unit price since the index began measurement in August 2013. Additionally, as high demand from industrial goods markets continues, shifts in global supply chains and a sustained increase in demand for Turkish industrial products are occurring. Industrial exports are forecast to remain elevated through year-end.