Construction Material Exports Reach $29.03 Billion – Breaking News
The Construction Material Industrialists’ Association (Türkiye IMSAD) has recently announced the results of the Construction Material Industry Foreign Trade Index for December 2024.
According to the statement released by Türkiye IMSAD, the sector’s exports in 2024 decreased by 0.5 percent to 29.03 billion dollars. This decline in export value can be attributed to various factors such as a recession in foreign markets, depreciation of the Turkish lira, decrease in commodity prices, and geopolitical developments. However, despite the decrease in export value, the export quantity increased by 1.2 percent to 45.88 million tons.
The export value of the construction material industry in 2024 was $0.63, showing a slight decrease compared to previous years.
On the other hand, imports of construction materials decreased by 0.3 percent to $11.31 billion, with a quantity decrease of 13.7 percent to 3.71 million tons. The average annual import unit price of the sector increased by 14.6 percent to $3.6.
When considering the exports of sub-sectors within the construction material industry, it was found that 4 out of 8 sub-product groups experienced an increase in 2024. Electrical equipment and equipment exports increased by 2.7 percent to 4 billion 797 million dollars, chemical-based products increased by 1.2 percent to 2 billion 859 million dollars, tree and wood products increased by 1 percent to 1 billion 313 million dollars, and insulation materials saw a 1 percent rise to $200 million.
However, there were decreases in exports of iron and steel products by 0.5 percent to 10 billion 316 million dollars, mineral stone and soil products by 3.1 percent to 4 billion 873 million dollars, metal-based products by 2.3 percent to 4 billion 397 million dollars, and prefabricated structures by 6.5 percent to $277 million.
Overall, the construction material industry in Turkey experienced mixed results in foreign trade in 2024, with some sub-sectors showing growth while others experienced a decline in exports. The industry will continue to monitor market trends and adjust its strategies accordingly to ensure sustainable growth in the future.
