Chemical Sector Exports Rose 21% in July

According to data from İstanbul Kimyevi Maddeler ve Mamulleri İhracatçıları Birliği (İKMİB), the chemicals sector's exports in July reached USD 1.92 billion. Sector exports increased 21.44% compared to July of the previous year. In the January-July period of this year, chemical substances and products exports reached USD 13.9 billion with a 37.16% increase. Assessing the chemicals sector's July export figures, İstanbul Kimyevi Maddeler ve Mamulleri İhracatçıları Birliği (İKMİB) Board Chairman Adil Pelister stated: "Despite global supply chain disruptions, logistics problems and raw material supply shortages, our chemicals sector made a strong start this year. Our chemicals sector, Turkey's second-largest exporting sector, led in May and June. In June, we broke our monthly sector record with USD 2.3 billion in chemical substances and products exports. July exports reached USD 1.92 billion, representing a 21.44% increase compared to the previous year. Our first seven-month exports reached USD 13.9 billion with a 37.16% increase. In July, the product groups with the highest exports in our subsectors were ranked as 'plastics and plastic products', 'mineral fuels, mineral oils and products' and 'inorganic chemicals' in the top three. In July, exports to Greece increased 354%, followed by the Netherlands and Germany in the top three. On one hand, the normalization process due to vaccination in the global economy is driving increased demand, while on the other hand the delta variant of Covid-19 continues to pose risks. For this reason, we continue to work with caution. Meanwhile, we observe that Turkey's Manufacturing PMI (Purchasing Managers' Index), an economic growth leading indicator, increased strongly in July and rose to 54. Looking at Turkey's top 500 and second 500 largest industrial enterprises, our chemicals sector has a total of 137 companies in the top 1,000—65 firms in the top 500 ranking and 72 firms in the second 500 ranking. Among these 137 firms, we are proud that 101 of the named companies are İKMİB members. Our chemicals sector continues to grow through production and export capacity and contribute to the country's economy." The top ten countries in July were Greece, the Netherlands, Germany, Spain, Italy, Iraq, the United States, Romania, Lebanon and the United Kingdom. Chemical exports to Greece in July reached USD 113.587 million, representing a 354.02% increase compared to the same period of the previous year. In July, the products most exported to Greece were 'mineral fuels, mineral oils and products', 'plastics and plastic products' and 'organic chemicals'. In the January-July period of 2021, the top ten countries for chemical exports were the Netherlands, Germany, Italy, the United States, Iraq, Greece, Spain, the United Kingdom, Belgium and Romania.

July saw the highest exports of "plastics and plastic products"

In July, plastics and plastic products exports among chemical substances and products ranked first in chemical exports with USD 694.871 million. Mineral fuels, mineral oils and products ranked second with USD 417.472 million in exports, while inorganic chemicals exports ranked third with USD 159.783 million. Following 'inorganic chemicals', other sectors in the top ten included 'pharmaceutical products', 'rubber and rubber goods', 'essential oils, cosmetics and soap', 'paints, varnishes, inks and preparations', 'organic chemicals', 'miscellaneous chemical substances' and 'fertilizers'. In July, the subsector with the highest export growth was mineral fuels, mineral oils and products with a 113.83% increase.