While the iron-steel industries supported Turkiye’s exports by $2.3 billion in June, the industries that achieved an export of $13.6 billion in the first 6 months of the year, took on 12.7% of Turkiye’s total exports, despite the stagnation in global demand.
According to the statement made by the Mediterranean Ferrous and Non-Ferrous Metals Exporters’ Association (ADMIB), Turkiye’s exports in June reached $20.9 billion with a decrease of 10.5%, and $123 billion 377 million with a decrease of 1.8% in the first 6 months of the year.
The 9-day holiday was effective in the decline in June. Iron and non-ferrous metals and steel sectors were negatively affected by the holiday period and decreased.
While the ferrous and non-ferrous metals industry realized an export of $1 billion with a decrease of 18.8% in June, the steel industry made an export of $1.3 billion with a decrease of 42.1%. Exports of ferrous and non-ferrous metals accounted for 6.1% of Turkiye’s total exports, while steel had a share of 7.3%.
Despite the declines, the two sectors increased their share and assumed 13.4% of Turkiye’s exports in June.
ADMIB also showed similar decreases in June. The ferrous and non-ferrous metals sector realized an export of $64 million with a decrease of 15.5% compared to the same period of the previous year. Steel exports this month, on the other hand, decreased by 46.4% to $143 million.
$13.6 billion contribution in 6 months
According to the total export figures for January-June, Turkiye’s overall exports of ferrous and non-ferrous metals decreased by 16.8% to $6.5 billion, while exports from the steel industry decreased by 39.2% to $7.1 billion.
According to the export figures from ADMIB General Secretariat in the first 6 months of the year, exports from the iron and non-ferrous metals sector decreased by 14.5% to $399 million, while exports from the steel industry amounted to $675 million with a decrease of 55.1%.
In the first half of the year, the ferrous and non-ferrous metals sector had a share of 6% and the steel sector a 6.7% share of Turkiye’s exports.
Germany is in the first place
In June, the country in the first place in Turkiye’s iron and steel exports was Germany with $213.4 million.
Italy followed with $133.2 million and Romania with $117.5 million . In ADMIB’s exports, Romania ranked first with $28.5 million. Iraq followed with $14.4 million and Germany with $13.2 million.
According to the information given, in the first half of the year, Germany was the first country in Turkiye’s iron and steel exports with $1.3 billion, followed by Italy with $779.1 million and Israel with $624.4, respectively. In the January-June period of ADMIB’s exports, Germany took the first place with $80.2 million. This country was followed by Iraq with $79 million and Romania with $73.8 million, respectively.
Mobility in demand will also be reflected in the figures
ADMIB Chairman Fuat Tosyali, whose views were given in the statement, noted that the negative impact of the declines in the global demand, especially in the iron and steel sector, continued, and stated that they could not reflect the performance they wanted in June with the effect of the 9-day holiday.
Tosyali said:
“As a result of these developments, our steel industry fell by 42.1% in June and our ferrous and non-ferrous metals industry fell by 18.8% in June. However, we will not feel the negative effect of the public holiday we experienced in June in July. I think we will achieve a better result when we add factors such as energy costs that have started to decrease and the start of mobility in demand.”
Expressing that in addition to the strengthening of the recovery signals in the US economy, a revival in tourism is expected in the ASEAN region, Tosyali said that construction projects are expected to increase in the medium term and accordingly demand will revive.
Tosyali said, “We believe that the second half of the year will be better. With the increase in demand, we will try to catch and even exceed $30 billion of exports in the iron and steel industry in Turkiye at the end of the year. Our goal is to contribute to our country with an export worthy of the 100th anniversary of our Republic, despite all the difficulties we experience.”
Source: Trthaber / Prepared by Irem Yildiz