Machinery sector exports rose 32% year-on-year in January-July, says head of sector association
Turkey’s machinery exports reached $13 billion in the first seven months of this year, up nearly one-third from last year, according to figures released by a sector association on Tuesday.
The sector’s exports rose 32% year-on-year this January-July, and climbed 16% versus the same period in 2019, the Machinery Exporters’ Association said in a press release.
Over the same period, the country exported more than 2 million tons of machinery products, it added.
Turkey’s machinery exports to the country’s three main destinations in this area Germany, the US, and the UK reached $3 billion this January-July.
Kutlu Karavelioglu, the group’s head, said sector exports are expected to reach 1.5 million tons or $9 billion during the last five months of the year.
As for this month, he said in July the sector’s activity fell due to the Muslim holiday of Eid al-Adha but that it is forecast to reach all-time high August figures this month.
Telling how German and US machinery exports posted declines this year, he underlined that Turkish machinery sector exports on the contrary have been growing by double-digit figures.