Construction Materials Exports Exceed $3 Billion

According to the Construction Materials Industry Foreign Trade Index from the Association of Turkish Construction Materials Manufacturers (İMSAD), monthly construction materials exports exceeded USD 3 billion for the first time in September, while volume reached its highest level at 5.98 million tonnes. İMSAD released its September figures, bringing two new records in construction materials exports for the month. According to the data, September saw the highest monthly exports in value and volume since August 2013, when the index began measurement, reaching USD 3.11 billion.

A first in construction materials history

The construction materials industry's monthly exports surpassed the USD 3 billion threshold for the first time in the index's history in September, with construction materials exports reaching 5.98 million tonnes in volume. The average annual export unit price in the construction materials industry rose 48.6% year-on-year in September compared to September of the previous year. The average export unit price, which stood at USD 0.35/kg in September 2020, climbed to USD 0.52/kg in September 2021. Construction materials imports in September 2021 totaled USD 723 million and 225,207 tonnes, declining marginally compared to August of the previous month. The import unit price in the construction materials industry reached USD 3.21/kg in September 2021. This marked the highest monthly average import unit price since August 2013, when the index began measurement.

Rising demand for Turkish construction materials

According to information provided, Turkey is experiencing additional demand particularly from European sources. Despite slowdowns in European markets, Turkey is increasing exports. Rising global commodity prices are also pushing up export unit prices for many construction materials. Changes in global supply chains are boosting demand for Turkish construction materials, with these trends expected to continue through year-end. In September 2021, construction materials export performance was strong across sub-sectors. Sub-sectors experienced similar trends. Exports showed generally upward trends in volume, value, and unit prices. In September, both increased demand and global price increases positively reflected on sub-sector exports. In September 2021, export unit prices rose in 6 of the 8 sub-product groups compared to September 2020. Likewise, in September, 5 of the 8 sub-product groups saw export volumes exceed those of September the previous year.

In 7 of the 8 sub-product groups, export value rose in September

According to the data, export value increased in 7 of the 8 sub-product groups. In September, where significant value increases occurred, base effects and price increases were also instrumental in the high growth rates. Turkish industrial exports showed strong performance in September. Industrial goods exports in September totaled USD 15.87 billion, achieving the highest monthly industrial goods exports on record. In September 2021, industrial product exports rose 9.7% in value compared to August of the previous month. While global market demand growth slowed in September, Turkey faced additional demand increases. Turkey's total industrial product exports in volume rose 5.1% in September 2021 compared to August of the previous month. Industrial exports gained momentum in volume terms during September. Export unit prices rose noticeably in September. Average unit prices in industrial goods exports stood at USD 1.47/kg in August 2021, reaching USD 1.53/kg in September 2021. In September, export unit prices reached the year's highest level. Rising commodity and finished product prices on a global scale also contributed to the increase in export unit prices.

ISTANBUL (AA)