Chemical Sector Maintains Its Lead in Exports

According to data from the Istanbul Chemical Substances and Products Exporters Association (İKMİB), the chemistry sector achieved USD 2.37 billion in exports in June this year, representing a 66.52% increase compared to the same month last year. Following May, the chemistry sector remained the top exporting sector in June as well, with first-half exports reaching approximately USD 12 billion, marking 40% growth. Adil Pelister, Chairman of the Board of the Istanbul Chemical Substances and Products Exporters Association (İKMİB), stated: "Our chemistry sector's performance continues to rise. We moved to the top position in exports in May. In June as well, we maintained our position as the sector with the highest exports. In June, we also became the first sector with the largest increase in exports. In June, we achieved chemical substances and products exports of USD 2 billion 375 million, reaching the highest monthly export figure of all time on a sectoral basis. We broke our previous monthly record. This represents a 66.52% increase compared to the same period last year. In the first six months of this year, our exports grew by 40% and reached USD 12 billion. Looking at the second quarter, we see an increase of more than 25% compared to the first quarter. Compared to the second quarter of last year, there was an increase of more than 70%. We hope that the Credit Guarantee Fund-backed program announced by our Treasury and Finance Minister, which will be implemented in July, will be an important support for our SMEs and exporters. Access to financing under favorable conditions for our investors is of great importance for our sector's development. On the other hand, electricity and natural gas price increases, which are a significant expense for industrialists, are raising our costs. We believe that this year we will surpass our annual target of USD 21 billion and reach USD 23 billion, and we are continuing to produce and export with all our strength accordingly," he said.  

Netherlands Becomes Top Export Destination in June

The Netherlands was the country with the highest exports in June. The other leading destinations in the top ten following the Netherlands in June were the USA, Italy, Germany, Iraq, the United Kingdom, Egypt, Romania, Spain and Greece. In the top 10 countries in June, the largest increase was 236.39% in the Netherlands. Chemical exports to the Netherlands in June totaled USD 250 million 71 thousand. This represents a 236.39% increase compared to the same period last year. In June, the most exported items to the Netherlands were "mineral fuels, mineral oils and products", "plastics and plastic products", "inorganic chemicals", "essential oils, cosmetics and soap" and "rubber and rubber products". In the January-June period of 2021, the top destinations for chemical exports were the Netherlands, Germany, Italy, the USA, Iraq, Spain, the United Kingdom, Greece, Belgium and Israel in the top ten. In June, plastics and plastic products exports ranked first in chemical substances and products export groups with USD 860 million 437 thousand. In second place was mineral fuels, mineral oils and products with USD 498 million 495 thousand in exports, while inorganic chemicals exports ranked third with USD 186 million 349 thousand. Following 'inorganic chemicals', other sectors in the top ten were: 'rubber and rubber products', 'pharmaceutical products', 'essential oils, cosmetics and soap', 'paints, varnishes, inks and preparations', 'fertilizers', 'organic chemicals' and 'miscellaneous chemical substances'.   In June, the largest export increase in sub-sectors was 307.47% in the fertilizers sector.    

2021 Monthly Chemical Exports

     

2021 June Leading Destinations for Chemical Exports

2021 June Chemistry Sector Export Sub-sectors