Construction materials industry production increased by 24.7 percent in February

The Monthly Sector Report of the Turkish Construction Materials Industrialists’ Association (Turkey IMIAD) announced the results for April.

According to the report, construction materials industry production increased by 24.7 percent on an annual basis in February. The production increase in the first 2 months of the year was 14.3 percent compared to the same period in 2023.

In the January-February period, production increased in 17 sub-sectors compared to the first two months of last year, while it decreased in 5 sub-sectors.

In the first two months, production increased by 30.4 percent in iron-steel bar profile, 29.1 percent in ready-mixed concrete, 26.7 percent in cement, 24.5 percent in construction products made of iron and steel, and 23 percent in construction glass. Production of ceramic coating materials decreased by 23.2 percent, while production of ceramic sanitaryware decreased by 19.4 percent.

Movement in urban transformation will positively contribute to sector growth According to the report, which also includes forecasts for the future of the construction sector, it is expected that the restrictive effects of post-local election credit growth restrictions and tightening measures will continue to affect the sector.

By the end of March, 78 thousand housing constructions were completed in the earthquake zone, and it is aimed to complete an additional 122 thousand housing units by the end of the year.

It is expected that the “Half of It’s on Us Campaign” will be more actively implemented to provide momentum to urban transformation, thus accelerating urban transformation activities, which are expected to contribute positively to growth in the construction sector.

source: prepared by Melisa Beğiç

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