Chemical Sector's Exports Reach $2.9 Billion

Chemical Sector Exports USD 2.9 Billion According to data from the Turkish Exporters Assembly (TİM), Turkey's exports in March reached USD 23.6 billion, up 4.4% from the same period last year. The chemical sector achieved USD 2.9 billion in exports during March. The sector's first-quarter exports this year reached USD 7.4 billion. With USD 2.9 billion in March exports, the sector accounted for 12.2% of the country's total exports. Adil Pelister, Chairman of the Board of the Istanbul Chemical Substances and Products Exporters Association (İKMİB), commenting on the sector's March export figures: "Following the devastating earthquake we experienced in February, we launched a major mobilization effort as a country to heal our wounds together. As the business world and exporters, we prioritized the needs of the regions affected by the earthquake. Along with the loss of workforce and facilities in the region, it is of great importance to complete temporary shelter and living areas as quickly as possible to mitigate the negative impacts on production and exports. Under the leadership of TİM, we continue our work on a project that will provide shelter for approximately 5,000 earthquake victims as exporters' associations. On the other hand, to increase our exports, which are pioneering in our country's development and growth, we are emphasizing our trade missions and fair participation. In March, we began to see the results of these efforts. Our chemical sector exports, which were USD 2.25 billion in February, rose to USD 2.9 billion in March. We became the second sector with the most exports in March. Our first-quarter sectoral exports exceeded USD 7 billion. As of April, we expect the reductions in natural gas and electricity prices to have a positive effect on production costs and thus our exports. Closely monitoring global developments and developments in our country, we are making efforts to draw an upward graph in our exports. We believe we will overcome this period by working more in unity and solidarity," he said. Netherlands was the leading export destination in March The Netherlands was the leading export destination in March. Other countries in the top ten following the Netherlands in March were Italy, Russia, Germany, Spain, Lebanon, the United States, Iraq, France and the United Kingdom. Among the top 10 countries in March, Russia saw the highest increase at 293.06%. Chemical exports to the Netherlands in March amounted to USD 195,564,000. This represented a 35.08% decline compared to the same period last year. The top five product groups exported to the Netherlands in March were, in order: "mineral fuels, mineral oils and products", "plastics and plastic products", "inorganic chemicals", "essential oils, cosmetics and soap" and "miscellaneous chemical substances". Plastics and plastic products recorded the highest exports in March In March, among chemical substances and products, plastics and plastic products exports ranked first in chemical exports at USD 875,893,000. Mineral fuels and products ranked second with USD 728,765,000 in exports, while inorganic chemicals exports ranked third at USD 290,370,000. Following 'inorganic chemicals', other sectors in the top ten were: 'essential oils, cosmetics and soap', 'pharmaceutical products', 'rubber and rubber articles', 'paints, varnishes, inks and related preparations', 'miscellaneous chemical substances', 'organic chemicals' and 'cleaning preparations'.