Türkiye İMSAD Publishes Monthly Sector Report

Turkey İMSAD Monthly Sector Report Released According to the February 2023 results of the 'Turkey İMSAD Monthly Sector Report' closely monitored by construction sector and economic circles, construction materials industry production showed a 0.2% increase for the full year despite the decline in the second half of 2022. The 3.3% and 3.4% contractions in production during the last two quarters of the year stemmed from weakening external demand. The "February 2023 Sector Report" prepared by Türkiye İMSAD (Turkey Construction Materials Manufacturers Association), the umbrella organization of the construction materials sector, has been released. According to the report, construction materials industry production declined 3.4% in the last quarter compared to the final quarter of the previous year. Nevertheless, construction materials industry production for the full year increased 0.2% compared to the previous year. The construction sector grew 2.0% in the fourth quarter of 2022 compared to the same period of the previous year, ending the decline experienced over the last 5 quarters. Despite weakening in other sectors, growth in the construction sector was largely driven by base effects. However, it was noted that fragilities in the dynamics of the limited improvement persist.

Production increased in 14 subsectors of construction materials industry

Türkiye İMSAD February 2023 Sector Report shows that construction materials industry production increased 4.4% in the first quarter of 2022 and 2.1% in the second quarter. Production, which showed declines throughout all months of the third quarter and contracted 3.3%, declined 3.4% in the fourth quarter of the year. The contraction seen in the second half of the year resulted from the slowdown in external demand. According to the report, production increased in 14 subsectors in 2022 compared to the previous year, while it declined in 8 subsectors. The sector showing the largest production increase was ceramic coating materials at 19.8%, while the largest decline was in the brick and tile sector at 12.7%. Plastic construction materials grew 18.5%, electrical lighting equipment 14.1%, construction paints and varnishes 13.2%, and ceramic sanitary ware 13%. Steel construction products declined 12.2%, steel radiators 11.1%, locks and fittings production 8.2%, and cement production 4.6%.