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Turkish textile exports end the first 8 months with an increase

TopicalTurkish textile exports end the first 8 months with an increase

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The exports of the Turkish textile and raw materials sector increased by 7.5% in the January-August 2022 period compared to the same period of the previous year and reached 8,8 billion dollars, according to the August 2022 Export Performance Report published by ITHIB (Istanbul Textile and Raw Materials Exporters’ Association). The share in Türkiye’s general exports decreased from 5.8% to 5.3% in the same period, while the percentage in August 2022 was announced as 5.0%.

Exports of Türkiye’s textile and raw materials sector increased by 1.5% in August 2022 and amounted to 1.1 billion dollars, increasing by 17% compared to July 2022. Türkiye’s general exports increased by 13.1% and reached a value of 21.3 billion dollars, while exports of industrial products decreased by 0.2% and amounted to 11.1 billion dollars in the same period.

Turkish textile exports end the first 8 months with an increase

The countries with the highest increase in Turkish textile and raw materials exports were Spain, Morocco and France

The textiles and raw materials were mostly exported to EU (27) countries in the January-August period of 2022, with an increase of 5.6% compared to the same period of 2021, amounting to 4 billion dollars. Exports to African countries, ranked second, increased by 20% in this period and reached 968 million dollars.

Italy ranked first among the prominent countries in Turkish textile and raw materials exports in the same period. Exports of textiles and raw materials to Italy increased by 18.2% and amounted to 819 million dollars, while Germany became the second country with the highest export of textiles and raw materials in this period, with an increase of 1.5% and exports of 667 million dollars. Italy and Germany were followed by the USA with an increase of 12.9%, Spain with an increase of 38.8% and the United Kingdom with a decrease of 13.1%. Among the top 10 countries to which Türkiye exports the most textiles and raw materials in this period, the countries with the highest increase in exports were Spain with an increase of 38.8%, Morocco with an increase of 38.4% and France with an increase of 18.9%.

The biggest increase in exports on the basis of quantity was in Morocco, the biggest decrease was in the United Kingdom

When the exports on the basis of quantity in this period are examined, it is seen that the exports decreased by 4.7% and amounted to 1.8 million tons. While exports to the EU countries, ranking first, decreased by 1.9% and fell to 765 thousand tons, African countries took second place with a share of 11.8% and exports of 213 thousand tons.

The most important export market in the January-August period of 2022 in terms of quantity was Italy with a share of 8.4%. Exports of textiles and raw materials to Italy on a quantity basis increased by 0.9% in this period and amounted to 151 thousand tons. Exports to Germany, the second largest export market, increased by 2.6% in this period, amounting to 123 thousand tons. While the USA is in the third place with an increase of 16.5% and exports of 119 thousand tons, when the exports of textiles and raw materials are analyzed in terms of quantity in the January-August 2022 period, Morocco was the country with the highest increase in exports among the top ten countries. Exports to Morocco increased by 30.4% to 44 thousand tons in this period. The country with the highest decrease was the United Kingdom. Exports to the United Kingdom decreased by 20.3% and amounted to 76 thousand tons.

Yarn maintained its weight in exports with an increase of 3.8%

Yarn maintained its weight in exports with an increase of 3.8%

The yarn product group continued to rank first in exports of the Turkish textile and raw materials sector, with an increase of 3.8% in the first eight months of the year. The most important sub-product group in yarn was made of synthetic-artificial filament fibres with an export value of 644 million dollars and a share of 36.3% of total yarn exports. Exports of the cotton yarn product group, the second largest sub-product group with a share of 33.1% in total yarn exports, increased by 1.5% in this period and reached a value of 587 million dollars.

In the same period, the second most exported product group, woven fabrics, increased by 19.4% and reached a value of 1.7 billion dollars. Exports of technical textiles, ranked third, decreased by 0.8% to 1.6 billion dollars in this period. Home textile exports increased by 2.6% to reach 1.5 billion dollars, while knitted fabric exports decreased by 1.2% to 1.3 billion dollars. Fibre exports reached 758 million dollars with an increase of 22.8%, and exports of the garment sub-industry sector reached 380 million dollars with an increase of 8.6%.

The average capacity utilization rate of the manufacturing industry for the last 12 months was 77.7% according to the capacity utilization report announced by the Central Bank of the Republic of Türkiye. The capacity utilization rate, which was 74.9% in the manufacturing of textile products in August 2022, decreased by 2.2% compared to July 2022 and decreased by 5.7% compared to August 2021.

Dollar/Euro parity has changed, and negative effects are expected on the sector

Finance and market experts predict that the recent deterioration of the parity balance between the dollar/euro in favour of the dollar will adversely affect the production and sales figures of the sector. It is noted that the fact that the dollar has become more valuable than the euro after many years may cause a great loss for the Turkish textile industry, which imports in dollars and sells in euros. Industry professionals state that these effects can be seen clearly in the last quarter of 2022 and the beginning of 2023.

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