Cement Sector Finds Relief Through Exports

Turkey's Cement Manufacturers Association released the cement sector's January-September data. According to these figures, the sector saw a 46% increase in export revenues, with 19.7% of produced cement being exported. According to Turkish Statistical Institute data, the country that most increased total cement and clinker exports during the first 9 months of 2019 was Cameroon. This country was followed by Côte d'Ivoire and Guinea. Cement exports increased by 46.1% during this period, reaching 8.6 million tonnes. Clinker exports rose by 111% to 9 million tonnes. The sector's total export value reached USD 676 million in this period, representing a 46% increase. TÇMB Board Chairman Dr. Tamer Saka stated, "The United States has been our most important market over the last 2-3 years. In particular, increasing construction activities there have had a positive effect on our exports. Our other important markets are Ghana and Israel." In the first 6 months of 2018, sales had shown greater-than-expected increases thanks to an unusually warm winter. However, in 2019, the adverse effects of seasonality and the continuing impact of the contraction from the latter part of the previous year led to a narrowing in domestic cement sales. Eastern Anatolia and Southeastern Anatolia regions were the areas where domestic sales contraction was lowest on a regional basis. According to the latest disclosed data, house sales across Turkey in September reached 146,903 units, representing a 15.4% increase compared to the same month of the previous year. TÇMB Board Chairman Dr. Tamer Saka stated, "With positive developments to be experienced in the construction sector through interest rate reductions, we hope that our sector's domestic sales will turn positive."