Chemical Exports to the U.S. Reach Record High

The chemical industry maintained its export momentum in September. According to data from the Istanbul Chemical Substances and Products Exporters Association (İKMİB), chemical exports in September rose 16.77% compared to the same month last year, reaching USD 1 billion 283 million. The sector's nine-month export performance increased 15.34%, climbing to USD 11 billion 886 million. In September's ranking of countries with the highest export volumes, the United States topped the list. Since the beginning of the year, the chemical industry has continued its export growth in September. Turkish chemistry, the country's third-largest exporting sector, achieved September exports of USD 1 billion 283 million, representing a 16.77% increase compared to the same month last year.

United States Leads in Exports

The United States, one of the sector's most important target markets, became the leading export destination in September. Chemical manufacturers with extensive export reach achieved exports to the US of USD 91 million 846 thousand last month, a 196% increase. Other countries in the top 10 following the United States in sector exports were Germany, Egypt, Iraq, Spain, China, Italy, Bulgaria, Romania and Iran.

Inorganic Chemicals Export Growth Trend Continues

Sub-sectors continue to be the driving force of chemical exports. Plastics and plastic products ranked first among sub-sectors with a 10.56% increase and USD 416 million 821 thousand in exports, while mineral fuels, oils and products ranked second with a 32.14% rise and USD 251 million 206 thousand in exports. Inorganic chemicals continued to increase its share of sector exports in September and maintained third position. Inorganic chemical exports reached USD 127 million 762 thousand, a 57.63% increase. Looking at the sector's nine-month export performance, chemical industry exports in the January-September period reached USD 11 billion 886 million with a 15.34% increase. The leading export destinations during this period were the United Arab Emirates, Germany, Iraq, the United States, Egypt, Italy, Iran, Spain, Greece and the United Kingdom. Evaluating the chemical sector's September performance, İKMİB Board Chairman Murat Akyüz stated: "Our September export figures and regional distribution demonstrate the correctness of our target market strategies. As we have emphasized since the beginning of the year, we need to offset export losses in neighboring countries with different regions. Last month, the United States ranked at the top of chemical exports. EU countries such as Germany, Spain, Italy, Bulgaria and Romania were among the top ten. The United States and EU countries hold an important position in chemical industry exports. Their demand for particularly high value-added products makes these countries even more critical. In the increase of exports to the United States, there is no doubt that the Turkish Trade Centers we implemented after an intensive work period contributed positively, as much as our product and branding strategies targeting this country. We provide important support to our companies, particularly in opening up to distant country markets such as the United States. As the number of our Trade Centers increases worldwide, it will have a positive impact on our exports. Additionally, in order to reach the 100,000 exporters target announced by our Prime Minister, we are trying to encourage our companies that are not yet exporting. We believe these efforts will support export growth in the coming months."