The January-March period exports of the armature, valve, valve tap and sanitary equipment industry reached $1 billion 14 million with an increase of 1.2% compared to the same month of the previous year.
According to the information obtained by the AA correspondent from the Armature Association, the sector exported the most to Germany with $129.5 million in the first quarter, followed by Russia, which reached $62.4 million with an increase of 194%.
With $48.6 million, Italy was the third country to export the most. The countries to which the sector exports the most were listed as Iraq, Romania, France, Poland, Spain, USA and Bulgaria after Italy.
The export unit price of the sector increased by 10.47% in March and rose to $5.91.
Making statements to the AA correspondent, ARMATURE Association Chairman of the Board Gokhan Turhan noted that the reductions in natural gas and electricity as of April will have a positive effect on production costs and therefore on exports.
Stating that as an industry, they exported more than $1 billion in the first quarter of 2023, Turhan said, “The country to which we exported the most in March was Germany with $47.4 million. After the conflict between Russia and Ukraine, the embargo decisions applied by western countries to Russia changed the balance of imports and exports.
Turkiye’s positive diplomatic relations with Russia were also reflected positively in trade data. As ARMATURE Sector, we increased our exports to Russia by 304% in March, reaching a total export figure of $23.8 million.”
Turhan made the following assessments:
“Considering the developments in the world and the current political and economic developments of our country, we continue our efforts to increase our exports. In March, our export unit price increased by 10.47% and rose to $5.91. As a sector, we are taking initiatives before our ministries to produce value-added products, to contribute to the foreign trade deficit, to encourage our companies to export and to prevent under-the-counter production.”
Stating that they have set an export target of $5 billion this year, Turhan said, “Our activities for organizing delegations to target countries for export, bilateral business meetings, participation in fairs continue. In addition, we continue our negotiations between TOKI and our association for new houses to be built in order to support the trend of localization in the country.
Source: AA / Prepared by Irem Yildiz