Chemicals and Apparel Sectors Follow as Top Exporters Amid Growth in Turkish Industry
Automotive Industry Leads August Exports with $2.7 Billion
Turkiye’s automotive industry made headlines in August, emerging as the top export sector with a remarkable $2.7 billion in revenue. According to the Turkish Exporters Assembly (TİM), this achievement highlights the industry’s resilience and strategic importance to Turkiye’s economy.
Key Sectors Driving Turkiye’s Export Growth
The automotive industry wasn’t the only sector to see substantial success in August. Two other sectors also demonstrated strong performance:
- Chemicals and Products: Coming in second, the chemicals sector secured $2.6 billion in exports. This sector’s consistent growth underscores its critical role in Turkiye’s industrial landscape.
- Apparel and Textiles: Ranking third, the apparel and textiles industry generated $1.7 billion in exports, reaffirming its position as a key player in Turkiye’s global trade.
Remarkable Growth in Jewelry Exports
While the automotive industry led in overall export value, the jewelry sector stood out with the most significant growth rate. In August, jewelry exports skyrocketed by an impressive 107.9%, reflecting a surge in demand for Turkish-made jewelry on the international market.
- Jewelry Sector: This sector’s remarkable growth was the highest among all industries, highlighting Turkiye’s craftsmanship and the global appeal of its jewelry products.
Industrial Sector Leads Overall Exports
In August, Turkiye’s industrial sector as a whole demonstrated its dominance, accounting for 70.5% of the country’s total exports. The sector’s exports increased by 2.6%, reaching a total of $15.5 billion.
- Industrial Dominance: The industrial group’s performance is a testament to Turkiye’s diversified and resilient industrial base, which continues to drive the country’s export economy.
Agricultural and Mining Sectors Also Show Growth
In addition to industrial exports, the agricultural and mining sectors also contributed to Turkiye’s export growth:
- Agriculture: This sector accounted for 13% of total exports in August, with a 2.2% increase, bringing in $2.9 billion.
- Mining: The mining sector, although smaller in comparison, saw a 5.6% rise in exports, totaling $523.3 million.
Top Export Markets: Germany, USA, and the UK
Turkiye’s exports in August were predominantly directed toward three key markets:
- Germany: Leading the pack, Germany imported $1.5 billion worth of Turkish goods, making it the largest single market for Turkish exports.
- USA: The United States followed closely with $1.1 billion in imports, reflecting strong trade relations between the two nations.
- United Kingdom: The UK also imported $1.1 billion in goods from Turkiye, rounding out the top three export destinations.
Leading Export Cities: Istanbul, Kocaeli, and Bursa
Three cities were at the forefront of Turkiye’s export activities in August:
- Istanbul: As Turkiye’s commercial hub, Istanbul led with a staggering $7.7 billion in exports.
- Kocaeli: Known for its industrial prowess, Kocaeli followed with $1.8 billion.
- Bursa: The automotive heartland of Turkiye, Bursa contributed $1.2 billion, driven largely by its strong automotive industry.
Automotive Industry Steers Turkish Exports Forward
The automotive sector’s dominance in August is a clear indicator of its pivotal role in Turkiye’s economy. As Turkiye continues to expand its export markets and diversify its industrial base, sectors like chemicals, apparel, and jewelry also contribute significantly to the nation’s economic strength. With Germany, the USA, and the UK as key trading partners, Turkiye’s export landscape remains robust and dynamic.
The success of Istanbul, Kocaeli, and Bursa as leading export cities further underscores the importance of regional industrial hubs in driving the country’s economic growth. As these sectors and cities continue to innovate and expand, Turkiye is well-positioned to maintain its upward trajectory in the global market.
Source: Trthaber / Prepared by Irem Yildiz