Chemicals Export Reached USD 2.4 Billion in February

According to data provided by Istanbul Chemicals and Chemical Products Exporters Association (İKMİB), exports of the chemicals sector reached USD 2.4 billion in February. Exports of the industry increased 43.97% compared to February of last year. Two-monthly exports of the industry increased by 37.26% and exceeded USD 4.5 billion. Chairman of the Board of Directors of Istanbul Chemicals and Chemical Products Exporters Association (İKMİB) Adil Pelister evaluated February export numbers of the chemicals industry and said: "Our country grew by 11% in 2021. In exports, which contributed 4.9 points to growth, our chemical industry broke a record as the second sector with exports reaching USD 25.4 billion. After January this year, our industry exports increased by 43.97% in February compared to the same month of last year and amounted to USD 2.4 billion. The exports of our industry increased by 37.26% in the two-month period this year, reaching USD 4 billion 543 million. Our chemicals industry maintained its position as the second largest exporter in February. In addition, it became the first among the sectors that increased its exports the most. The top three industries that we exported the most in February were plastics and its products, mineral fuels, mineral oils and products, and inorganic chemicals. The top three countries to which we exported the most were Germany, Italy and Netherlands. In order for our industry and our country to achieve sustainable growth, it is necessary to focus on high value-added domestic production, which adopts green transformation. Recently, increasing energy costs and commodity prices all over the world continue to rise due to the Russia-Ukraine crisis. As the chemicals industry, which is 70% foreign-dependent in terms of raw materials, we follow these developments closely. In order to prevent being affected by these problems, the support of our state for our sector such as VAT, SCT reduction, and reduction of energy costs are of great importance. Recently, TRY 60 billion CGF packages were announced. In addition, Export Promotion Inc, which was established by TIM and Eximbank to provide special support and surety to exporters, started its activities as of this month. We hope that these supports, which are important for our exporters, will increase and that more of our companies will benefit from these supports."

Germany became the top recipient of exports in February

Germany became the top recipient of exports in February. Other countries that followed Germany and occupied the top ten in February were Italy, Netherlands, Lebanon, France, the USA, Morocco, Iraq, Spain, and Britain. In February exports to Morocco increased the highest among the top ten countries with 277.64%.

Top recipients of Turkish chemicals exports in February 2022

Chemical sub-sectors of exports in February 2022

Chemicals export to Germany reached USD 131 million 690 thousand in February and increased by 53.89% compared to the same period of last year. The top five products groups that were exported the most to Germany in February were "plastics and products," "rubber, rubber products," "pharmaceuticals," "various chemical agents," and "essential oils, cosmetics and soap".

"Plastics and products" was the top exported sub-sector in February

In February, exports of plastics and products in chemical substances and products product group ranked first in chemical exports with USD 846 million 948 thousand. Mineral fuels, mineral oils and products took the second place with an export of USD 526 million 823 thousand, while exports of inorganic chemicals occupied the third place with USD 237 million 776 thousand. Following 'inorganic chemicals', other sectors in the top ten were 'rubber, rubber products', 'essential oils, cosmetics and soap', 'pharmaceuticals', 'paints, varnishes, inks and their products', 'various chemicals', 'organic chemicals' and 'fertilizers'. In February, the highest increase in exports in sub-sectors was realized in the fertilizers group with 134.72%.