Chemical Sector Achieves $2.7 Billion in Exports

According to data from Turkey's Exporters Assembly (TİM), Turkey's exports reached USD 22.9 billion in October, up 7.4% year-on-year. The chemical sector, which achieved USD 2.7 billion in exports, became the second-largest exporting sector in October. The sector, which achieved USD 25 billion in exports over the first ten months, accounted for 11.9% of the country's total exports. Evaluating October export figures for the chemical sector, İstanbul Kimyevi Maddeler ve Mamulleri İhracatçıları Birliği (İKMİB) Chairman Adil Pelister stated: "In October, our chemical sector achieved USD 2.7 billion in exports with a 3.1% increase and accounted for 11.8% of our country's exports. We are among the sectors that contribute most to our country's economy and growth. For the ten-month period January through October, our exports totaled USD 25 billion. Despite challenging conditions such as access to financing, inflation, energy costs and developments in our neighboring region, we have succeeded in increasing our exports as Turkey's second-largest exporting sector. On the 100th anniversary of our Republic, which we celebrate with great enthusiasm, we are making efforts to raise our sector's exports above USD 30 billion. In 2000, we exported USD 1.864 billion in chemical substances and products annually, while today we are exporting over USD 2 billion monthly. In the second century of our Republic, we are moving forward with confident steps in unity and solidarity as exporters toward a prosperous, strong and developed Turkey. With this awareness, as the chemical sector, we will continue to produce, export and work without pause to achieve our targets in line with our 2030 vision" he said.

Mineral fuels and products lead exports

In October, mineral fuels and products topped chemical exports at USD 813.579 million. Plastics and plastic products ranked second with USD 784.152 million in exports, while inorganic chemicals exports came third at USD 236.735 million. Following inorganic chemicals, the other sectors ranking in the top ten were: essential oils, cosmetics and soap; rubber and rubber goods; paints, varnishes, inks and preparations; pharmaceutical products; miscellaneous chemical substances; cleaning preparations; and organic chemicals.

Netherlands leads destination countries

In October, the top ten destination countries for exports were the Netherlands, Russia, Italy, the United States, Iraq, Germany, Romania, Lebanon, the United Kingdom and South Africa. Among the top 10 countries, South Africa saw the highest growth in October at 785.18%. For the January-October 2023 period, the top ten countries for chemical exports were the Netherlands, Russia, Italy, Romania, Germany, Spain, the United States, Iraq, Belgium and the United Kingdom.