Sectors Under İMMİB Achieve USD 69 Billion in Exports

İMMİB sectors posted USD 69.6 billion in exports over 10 months. Sectors under the association claimed USD 8.137 billion of Turkey's USD 20.8 billion in October exports. ISTANBUL (AA) - Total exports from sectors within the scope of activity of İstanbul Maden ve Metaller İhracatçı Birlikleri (İMMİB) reached USD 69.6 billion over 10 months. According to a statement from İMMİB, in October when Turkey achieved USD 20.8 billion in exports with a 20.2% increase, sectors under the İMMİB umbrella posted USD 8.137 billion in exports with a 39.4% increase. During the 10-month period under the association, the steel sector achieved the highest growth at 80% compared to the same period of the previous year, raising its share in Turkey's exports to 10.9% with USD 18.1 billion in exports. The chemicals sector, which increased exports by 38.5% in the 10-month period, achieved the highest exports under the association at USD 20.5 billion and raised its share in Turkey's exports to 11.3%. The electrical-electronics sector increased exports by 32.9% and recorded USD 11.6 billion in exports over 10 months. The metals sector increased exports by 48.8% compared to the same period of the previous year and achieved USD 9.9 billion in exports. During the same period, the mining sector raised exports by 44.5% to USD 4.9 billion, and the jewelry sector raised exports by 44.5% to USD 4.6 billion. The leading markets for the sectors were China and the United States respectively, with their share in Turkey's exports rising to 5.6%.

"Despite challenges, our country and our sectors are strengthening their strategic position"

In October, the chemicals sector with USD 2.3 billion and the steel sector with USD 2.2 billion in exports were the sectors with the highest exports under the association. During this period, steel sector exports increased 107% compared to the same period of the previous year, while chemicals increased by 34.4%. The chemicals sector's leading market during the said period was Lebanon. In October, the electrical-electronics sector increased exports by 10% and posted USD 1.2 billion in exports. The sector's leading market was the United Kingdom. The metals sector, which experienced the second-highest growth at 43%, increased exports to USD 1.1 billion. The sector's leading market was Germany. The jewelry sector achieved USD 686 million in exports during the stated period, while the mining sector achieved USD 466 million in exports. Dr. Armağan Vurdu, Secretary General of İstanbul Maden ve Metaller İhracatçı Birlikleri (İMMİB), whose views were included in the statement, noted that they held approximately 40% of Turkey's USD 20.8 billion in exports achieved in October, stating: "The sectors within our association continue to increase export figures each day despite all problems including the pandemic, ongoing issues in global trade, high freight rates, currency fluctuations and increases in raw material costs. Despite all difficulties, our country and our sectors are strengthening their strategic position in the world. Our exports to industrially developed countries such as Germany, the United Kingdom, the Netherlands and China prove this." he said. Vurdu noted that developments reshaping global trade are occurring in many sectors today, stating: "As a secretariat general, we are closely monitoring developments and taking all steps that will positively affect the development of our sectors. We believe that through tax practices, adapting to climate and environmental policies, and steps such as digitalization and automation in industry, we will further increase our associations' share in Turkey's exports." he assessed.