Chemical Exports Rise in Volume, Fall in Value
The chemical sector's exports in November fell 12.53% in value to USD 1 billion 307 million.
Chemical sector exports in November declined 12.53% by value to USD 1.307 billion. For the January-November period, exports reached USD 14.196 billion.
Despite the value decline, volume-based exports in the same period increased 12.4% compared to the same period last year, reaching 15.6 million tonnes.
İKMİB data shows that the chemical sector achieved its highest exports in November to Iraq, Spain and Germany. United Arab Emirates, Egypt, United Kingdom, Italy, Greece, France and Iran ranked among the other top 10 countries for chemical exports. In November compared to the same month last year, exports rose 155% to Saudi Arabia, 93% to Greece, 89% to France, 52% to United Kingdom, 36% to Spain and 15% to United Arab Emirates. Looking at Turkey's critical chemicals sector exports for the first 11 months of 2015, the top three countries were Iraq, Egypt and Germany, followed by United Arab Emirates, Italy, Spain, Iran, Saudi Arabia, Greece and Azerbaijan-Nakhchivan. Russia, which has long held a place in the top 10 export rankings, continues to see declining chemical exports. Exports to Russia, a highly important market for chemical sales, fell 34% to USD 378 million in the January-November period.İKMİB Chairman Murat Akyüz noted that 2015 has been a challenging year for exporters, stating:
"We are in the final month of the year. Global economic slowdown combined with domestic uncertainties has created difficulties for our exporters and industrialists. Despite all these headwinds, the chemical sector maintains its position among Turkey's top three export sectors. We believe 2016 will be a better year when we can surpass 2015 figures." Akyüz, highlighting concerns about ongoing tensions between Turkey and Russia and a shift toward alternative markets, stated: "Sanctions imposed by Western countries on Russia and continuing, along with declining commodity prices—particularly oil—and significant ruble depreciation have resulted in Russia's economic contraction, negatively affecting our chemical exports. The ruble has lost approximately 33% of its value against the US dollar compared to the previous year. Similarly, oil and natural gas prices, Russia's most important revenue sources, declined 33% compared to the same period last year. This situation negatively impacts Russia's purchasing power." İKMİB Chairman Murat Akyüz noted the long-standing strong cooperation between the two countries, stating: "Our expectation is that this cooperation not be sacrificed to political processes. However, given recent developments, the problem does not appear likely to be resolved soon. We will turn toward markets that can serve as alternatives to Russia."Chemical sector exports in the first 11 months of the year
|
2014-2015 |
||||
|
January-November 2013 |
Difference (%) |
January-November 2014 |
January-November 2015 |
|
| Product Group |
Value ($) |
Value |
Value ($) |
Value ($) |
| Glycerin, vegetable products, degras, fatty substances |
644.901 |
10.02 |
605.680 |
666.383 |
| Mineral fuels, mineral oils and products |
4.692.866.142 |
-22.19 |
4.248.303.725 |
3.305.512.292 |
| Inorganic chemicals |
1.062.124.521 |
-8.25 |
1.141.664.842 |
1.047.423.881 |
| Organic chemicals |
521.364.269 |
-13.85 |
495.811.931 |
427.130.538 |
| Pharmaceutical products |
691.939.615 |
-4.60 |
787.297.899 |
751.083.124 |
| Fertilizers |
125.829.442 |
5.10 |
209.514.679 |
220.190.903 |
| Paints, varnishes, inks and preparations |
707.349.717 |
-10.52 |
711.530.902 |
636.648.995 |
| Essential oils, cosmetics |
648.747.999 |
-9.22 |
706.348.439 |
641.188.833 |
| Soap and washing preparations |
845.165.226 |
-13.92 |
932.940.963 |
803.029.852 |
| Adhesives, glues, enzymes |
180.919.847 |
-4.73 |
167.187.939 |
159.283.166 |
| Gunpowder, explosives and derivatives |
7.003.440 |
27.80 |
6.479.252 |
8.280.236 |
| Photography and cinematography products |
24.375.245 |
-35.37 |
17.764.004 |
11.481.051 |
| Miscellaneous chemical substances |
447.032.809 |
-2.56 |
460.808.673 |
449.008.462 |
| Plastics and articles thereof |
4.794.317.337 |
-10.93 |
5.272.392.402 |
4.695.952.659 |
| Rubber and rubber articles |
1.139.400.269 |
-17.84 |
1.265.524.434 |
1.039.801.194 |
| Processed asbestos and mixtures, articles thereof |
226.344 |
7.21 |
253.588 |
271.865 |
| TOTAL: |
15.889.307.124 |
-13.56 |
16.424.429.351 |
14.196.953.436 |
Which countries received the most chemical exports in November 2015?
|
Country |
November 2014 Value ($) |
November 2015 Value ($) |
Change Value (%) |
| IRAQ |
98,155,731.14 |
89,921,002.84 |
-8.39 |
| SPAIN |
50,182,754.60 |
68,438,512.83 |
36.38 |
| GERMANY |
68,717,498.59 |
67,804,242.57 |
-1.33 |
| UNITED ARAB EMIRATES |
58,523,524.12 |
67,576,936.51 |
15.47 |
| EGYPT |
133,140,672.81 |
65,803,604.06 |
-50.58 |
| UNITED KINGDOM |
35,775,614.57 |
54,496,510.85 |
52.33 |
| ITALY |
58,245,573.49 |
52,731,137.83 |
-9.47 |
| GREECE |
24,258,449.76 |
46,818,999.36 |
93.00 |
| FRANCE |
23,613,112.70 |
44,693,567.98 |
89.27 |
| IRAN |
47,995,038.39 |
40,578,669.60 |
-15.45 |
Chemical exports in 2015
|
2014 ($) |
2015 ($) |
DIFFERENCE (%) |
|
|
January |
1,397,872,316.30 |
1,200,519,640.04 |
-14.12 |
|
February |
1,449,038,447.14 |
1,179,150,468.94 |
-18.63 |
|
March |
1,466,810,840.47 |
1,348,160,844.35 |
-8.09 |
|
April |
1,487,779,336.37 |
1,447,399,135.34 |
-2.71 |
|
May |
1,591,823,322.76 |
1,383,167,152.61 |
-13.11 |
|
June |
1,524,137,513.33 |
1,423,600,099.15 |
-6.60 |
|
July |
1,574,673,491.62 |
1,314,488,618.55 |
-16.52 |
|
August |
1,431,805,577.15 |
1,190,142,015.31 |
-16.88 |
|
September |
1,508,699,340.46 |
1,094,614,848.40 |
-27.45 |
|
October |
1,496,461,232.08 |
1,307,731,099.33 |
-12.61 |
|
November |
1,495,327,932.83 |
1,307,979,513.76 |
-12.53 |
