Chemical Sector Exports Reach 2.5 Billion Dollars – Latest Update
Türkiye’s Chemical Sector Surpasses Expectations in February Exports
According to the latest data released by the Turkish Exporters Assembly (TIM), Türkiye’s exports reached 20.8 billion dollars in the month of February. The chemical sector stood out as the second most exporting sector during this period, contributing significantly to the country’s export numbers by exporting chemicals and products worth 2.5 billion dollars. The sector’s exports in the first two months of the year totalled 5 billion dollars, showcasing its strong performance.
Chairman of the Union of Istanbul Chemicals and Products Exporters Association, Adil Pelister, expressed his satisfaction with the export figures of the chemical sector in February. Despite facing challenging conditions, Türkiye managed to achieve a growth of 3.2 percent in 2024, demonstrating a remarkable success.
Pelister highlighted the chemical sector’s achievement in 2023, where it recorded exports worth 30.8 billion dollars, marking a 1 percent increase from the previous year. He emphasized the sector’s positive start to 2024, with 2.5 billion dollars of exports in January and another 2.5 billion in February.
Acknowledging the impact of global trade developments and fluctuating oil prices on export markets, Pelister also welcomed the recent decision to reduce the mandatory foreign currency exchange rate for exporters by 25 percent. This adjustment is expected to provide significant financial relief to exporters, particularly in terms of sourcing raw materials.
In terms of export destinations, Italy emerged as the top recipient of Türkiye’s chemical exports in February, receiving exports worth $187 million. Other countries in the top ten included Romania, Netherlands, Lebanon, Germany, Russia, Iraq, Egypt, USA, and England.
Among the top 20 countries, Greece experienced the highest increase in exports at 111.70 percent, reflecting the sector’s growing international reach. With continued support and a focus on innovation, Türkiye’s chemical sector is well-positioned to further expand its global presence and contribute to the country’s export growth.
