Chemical Sector Was Turkey's Top Exporting Sector in May

According to data from the Istanbul Chemical Substances and Products Exporters Association (İKMİB), the chemical sector became the country's top exporting sector in May this year with USD 2.13 billion in exports despite the pandemic. The sector achieved an 80 percent increase compared to May of the previous year, while its first five-month exports reached USD 9.6 billion with a 35 percent increase. Assessing the May export figures for the chemical sector, İKMİB Board Chairman Adil Pelister stated: "Our chemical sector is demonstrating strong performance in both production and exports. Our sector, which supplies raw materials or semi-finished products to 27 sectors, provides significant added value to our country's growth and economy. Despite pandemic restrictions, logistics and supply chain challenges, our sector's export momentum did not slow down. On the contrary, we became Turkey's top exporting sector in May. In May, we achieved USD 2.13 billion in chemical substances and products exports with an 80 percent increase compared to the same month last year. Our first five-month exports also increased by 35 percent and exceeded USD 9.6 billion. On the other hand, our country grew by 7 percent in the first quarter. These achievements offer hope for the future. We expect industrialists and exporters in our country who face difficulties in accessing financing due to the pandemic to reach appropriate financing conditions as soon as possible. A call for the Technology-Driven Industrial Initiative program is planned for June. We hope that with incentives and support provided to our sector, investments will be implemented as quickly as possible. Thus, we anticipate that higher value-added production and exports will increase," he said.

Netherlands was the top export destination in May

The Netherlands was the leading export destination in May. The other top ten countries following the Netherlands in May were the United States, Germany, Spain, Italy, Ukraine, Iraq, Belgium, the United Kingdom and Greece. Among the top 10 countries in May, Belgium recorded the highest increase at 363.53 percent. Chemical exports to the Netherlands in May totaled USD 118.18 million. This represented a 51.33 percent increase compared to the same period last year. The main chemical products exported to the Netherlands in May were mineral fuels, mineral oils and products; plastics and articles thereof; inorganic chemicals; and essential oils, cosmetics and soap. For the January-May 2021 period, the top ten countries for chemical exports were Germany, Italy, the United States, the Netherlands, Iraq, Belgium, Spain, Greece, the United Kingdom and Israel, respectively.

Largest chemical exports in May were in "plastics and articles thereof"

Among chemical substances and products in May, exports of plastics and articles thereof topped chemical exports at USD 735.79 million. In second place was mineral fuels, mineral oils and products with USD 570.24 million in exports, while inorganic chemicals exports ranked third at USD 164.91 million. Following inorganic chemicals, other sectors in the top ten included rubber and rubber articles; essential oils, cosmetics and soap; pharmaceutical products; paints, varnishes, ink and preparations; miscellaneous chemical substances; organic chemicals; and washing preparations. In May, the largest export increases among subsectors occurred in mineral fuels, mineral oils and products at 233.45 percent and in the fertilizers sector at 207.26 percent.