Chemical Exports Reach $2.13 Billion in January

Chemical Exports Reached USD 2.13 Billion in January According to data from the Istanbul Chemical Manufacturers and Exporters Association (İKMİB), chemical sector exports in January totalled USD 2.13 billion. Sector exports increased 30.60% compared to January of the previous year. In 2021, the sector set a record with USD 25.4 billion in exports, a 38.79% increase from 2020, and made a positive start to 2022. İKMİB Board Chairman Adil Pelister: "In 2021, which took place in the shadow of the pandemic, our sector—despite experiencing logistics and supply chain difficulties, particularly in the second half of the year—demonstrated superior performance and set a new record. With USD 25.4 billion in exports achieved, we concluded 2021 as the second largest sector. Our sector grew 38.79% compared to 2020. Through capacity utilisation, increased average kilogram unit value, employment growth and market diversification, our sector became the second largest contributor to exports, playing a significant role in our country's growth. I sincerely congratulate all exporters who brought our sector to this record success. We have made a good start this year as well. In January, we achieved USD 2.13 billion in chemical exports with a 30.60% increase. Our chemical sector maintained its position as the second largest exporting sector in January. Furthermore, it ranked second among sectors with the highest export growth. The top three product categories we exported most in January were plastics and plastic products, mineral fuels, mineral oils and products, and inorganic chemicals. The top three countries where we exported most were the Netherlands, Italy and the United States, while China entered the top ten. Notably, exports to Singapore increased 2,634.84%. We hope to accelerate the momentum our sector has captured in exports. In line with our target of reaching USD 28 billion in exports this year, we will continue working with all our might to produce higher value-added exports."

Netherlands Was the Top Export Destination in January

The Netherlands was the country receiving the most exports in January. In January, other countries ranking in the top ten alongside the Netherlands were Italy, the United States, Germany, Lebanon, Spain, Iraq, Israel, China and the United Kingdom. Among the top 10 countries in January, the Netherlands saw the highest growth at 278.54%. Chemical exports to the Netherlands in January reached USD 153,277,000. This represented a 278.54% increase compared to the same period last year. The top five product groups exported to the Netherlands in January were, in order: "mineral fuels, mineral oils and products", "plastics and plastic products", "inorganic chemicals", "essential oils, cosmetics and soap" and "rubber and rubber articles".

January Saw the Highest Exports of "Plastics and Plastic Products"

In January, among chemical product groups, plastics and plastic products exports ranked first in chemical exports with USD 718,857,000. Second place was held by mineral fuels with USD 552,471,000 in exports, while inorganic chemicals exports ranked third with USD 186,696,000. Following inorganic chemicals, other sectors ranking in the top ten were: rubber and rubber articles, pharmaceutical products, essential oils, cosmetics and soap, paints, varnishes, inks and preparations, miscellaneous chemical substances, organic chemicals, and washing preparations. In January, the largest export growth among sub-sectors occurred in mineral fuels, mineral oils and products at 50.70%.