Chemical Sector Leads Exports in May

According to data from İKMİB (Istanbul Chemical Substances and Products Exporters Association), the chemical sector achieved USD 2.8 billion in exports in May. For the third consecutive month, the sector held the top export position, and it maintained its leadership with USD 13.6 billion in exports during the first five months of the year. The chemical sector, which reached the leading position in March, achieved the highest export volume for the third consecutive time in May following April. Sector exports increased by 30.7 percent in May compared to the same period last year, while total exports in the first five months rose by 41.7 percent, exceeding USD 13.6 billion. Adil Pelister, Chairman of the Management Board of İKMİB, commenting on the May export figures of the chemical sector, stated: "As the chemical sector, we continue to consistently increase our exports and maintain our export leadership. With USD 2.8 billion in exports achieved in May, we became the leading sector with the highest exports for the third consecutive time. In the first five months, our sector exports exceeded USD 13.6 billion. I sincerely congratulate all our exporters who brought our sector to first place for the third time and feel proud. As İKMİB, in this year when we are trying to overcome the effects of the pandemic, we placed greater emphasis on all our activities such as trade fair national participations and purchasing and trade delegations. Most recently, we organized the Pakistan Special Qualified Purchasing Delegation in Istanbul on 23–24 May 2022, the Cosmetics & Home Care Ingredients (CHCI) Fair Purchasing Delegation on 25–26 May 2022, and our Purchasing Delegation programme concurrent with the IDEX fair on 26–27 May 2022. However, to maintain our exports at the same level in the coming period, we especially need long-term, low-interest credits and incentives for our SMEs. We are experiencing a period in which inflation is running high globally, commodity, energy and food prices are continuing to rise rapidly due to the Russia-Ukraine crisis, raw material prices are increasing, and product procurement is becoming more difficult. Therefore, to overcome these challenges and achieve or even exceed our targets, we expect support to increase. As the Turkish chemical sector, we will continue to work with all our strength to increase the contribution we provide to our country's economy" he said.   South Africa Became the Leading Export Destination South Africa was the country receiving the most exports in May. The other countries among the top ten following South Africa in May were Romania, Lebanon, Belgium, Italy, the United States, Spain, Egypt, Germany and Iraq. The largest increase among the top 10 countries in May was 517.30 percent in South Africa.   Chemical exports to South Africa in May reached USD 205,839,000. This represented an increase of 517.30 percent compared to the same period last year. The top five product groups exported to South Africa in May were, in order: "mineral fuels, mineral oils and products", "plastics and articles thereof", "rubber and rubber articles", "inorganic chemicals" and "paints, varnishes, inks and preparations".   The countries receiving the most chemical exports during the January–May 2022 period ranked in the top ten as follows: the Netherlands, Italy, the United States, Romania, Lebanon, Germany, Spain, South Africa, Iraq and Belgium.   In May, mineral fuels, mineral oils and products in the chemical substances and products categories ranked first in chemical exports with USD 1,020,787,000. Plastics and articles thereof ranked second with USD 795,651,000 in exports, while inorganic chemicals ranked third with USD 239,301,000 in exports. Other sectors in the top ten following inorganic chemicals were: rubber and rubber articles, essential oils, cosmetics and soap, paints, varnishes, inks and preparations, pharmaceutical products, organic chemicals, miscellaneous chemical substances and fertilizers.