October Export of Chemical Industry

October Export of Chemical Industry According to the data of the Istanbul Chemicals and Chemical Products Exporters' Association (İKMİB), the exports of the chemical industry in October reached $2.31 billion. The exports of the sector increased by 34.14 percent compared to October of the previous year. Chemicals and chemical products exports in the January-October period this year exceeded USD 20 billion and amounted to USD 20.576 billion in value. Exports of the sector in the ten-month period increased by 38.39 percent. Assessing the October export figures of the chemicals industry, Chairman of the Istanbul Chemicals and Chemical Products Exporters Association (İKMİB), Adil Pelister said: "Our chemical exports in October increased by 34.14 percent and amounted to USD 2.316 billion. In the first ten months, our exports increased by 38.39 percent and amounted to USD 20.5 billion. In October, we exported mostly "plastics and products", "mineral fuels, mineral oils and products" and "inorganic chemicals". In October, Lebanon was the highest receiver of our exports, followed by Greece and Germany. We continue to be the second largest exporting industry on an annual basis. This success in our exports makes us proud. When we look at the average capacity utilization rate of the chemicals industry in October, we see that it increased from 73 percent to 75 percent compared to September. While these data give us hope, increases in commodity prices, exchange rate volatility, and increases in electricity and natural gas prices are challenging our producers and exporters. We expect such burdens, which cause additional costs especially to our energy-intensive industry, to be removed and that our efforts are facilitated. If we can overcome these problems, our exports will increase even more."

Lebanon Received the Highest Exports in October

Lebanon received the highest exports in October. Other countries in the top ten following Lebanon in October were Greece, Germany, Iraq, Belgium, the Netherlands, Italy, Republic of South Africa, Britain, and the U.S.A. In October, the highest increase in exports among the top 10 countries was to the Republic of South Africa with 788.11 percent. Chemical exports to Lebanon in October amounted to USD 123.329 million. Compared to the same period of the previous year, it increased by 109.29 percent. The top five product groups exported to Lebanon the most in October were "mineral fuels, mineral oils and products", "plastics and products", "washing products", "essential oils, cosmetics and soap", and "inorganic chemicals". In the January-October period of 2021, the countries in the top ten list that received the highest chemicals exports were the Netherlands, Germany, USA, Iraq, Italy, Greece, Belgium, Spain, Britain, and Lebanon, respectively.

"Plastics and Plastic Products" were Exported the Most in October

In October, exports of plastics and plastic products in the chemicals and chemical products group ranked first in chemical exports, amounting to USD 761.680 million. Mineral fuels, mineral oils and products occupied the second place with exports amounting to USD 571.066 million, while inorganic chemicals exports occupied the third place, amounting to USD 171.165 million. Following 'inorganic chemicals', other sectors in the top ten are 'essential oils, cosmetics and soap', 'rubber and rubber products', 'pharmaceutical products', 'fertilizers', 'paints, varnishes, inks and preparations', 'organic chemicals', and 'various chemicals'. In October, the highest increase in exports in sub-sectors was achieved in the fertilizers sector with 301.30 percent.