Chemical Sector's Exports Surpass $30 Billion

Chemical Industry Exports Surpass USD 30 Billion According to data from the Turkish Exporters Assembly (TİM), Turkey's exports in November reached USD 21.9 billion, up 1.9% year-on-year. The chemical sector achieved USD 2.6 billion in exports in November, representing an 8.3% increase. The sector's exports for the first 11 months exceeded USD 30 billion, up 34%. The chemical sector was the second-largest exporting sector in November, while maintaining its leading position over the 11-month period. With a 11.9% share of monthly country exports, the sector's exports increased 8.3% compared to the previous year, reaching USD 2.6 billion. The chemical sector grew 34% with USD 30.7 billion in exports during the first 11 months. Adil Pelister, Chairman of the Board of Istanbul Chemical Substances and Products Exporters Association (İKMİB), commenting on the chemical sector's November export figures, stated: "In November, our sector exports reached USD 2.6 billion with an 8.3% increase. During January-November, export growth was 34%, and we achieved USD 30.7 billion in exports. Our country grew 3.9% year-on-year in the third quarter, while contracting 0.1% on a quarterly basis. We believe the slowdown in growth is due to declining domestic and foreign demand, as well as the slowdown in industrial production and consequently in export growth.   However, looking at global developments, while there are numerous factors negatively affecting our exports and growth such as recession expectations, stagnation, energy prices, and raw material prices, we find it important that our country's exports continue to grow and maintain the growth trend, albeit limited. As İKMİB, in November we conducted two important sectoral trade delegations to Uzbekistan and Kenya to contribute to increasing our chemical sector's exports, increase member companies' market share in global markets, expand existing markets, and acquire new ones. We organized national pavilion participations at Beautyworld ME, Medica and Cosmoprof Asia, as well as buying delegations for international fairs held in our country such as Plast Eurasia Istanbul and Turkchem Eurasia 2022. We will continue to work at full capacity to provide greater contribution to production and exports as a chemical sector. We aim to complete this year with a new record above USD 33 billion," he said.    

Netherlands Was the Top Export Destination in November

The Netherlands was the top export destination in November. Other countries in the top ten following the Netherlands in November were Russia, Romania, Spain, the United States, Lebanon, Iraq, Italy, Germany, and the United Kingdom. The highest increase among the top 10 countries in November was 200.49% to Russia. Chemical exports to the Netherlands in November reached USD 213,521,000, up 39.50% compared to the same period last year. The top five product groups exported to the Netherlands in November were "mineral fuels, mineral oils and products," "inorganic chemicals," "plastics and articles thereof," "essential oils, cosmetics and soap," and "miscellaneous chemical substances." During January-November 2022, the top 10 countries by chemical exports were the Netherlands, the United States, Italy, Romania, Lebanon, Russia, Germany, South Africa, Spain, and Iraq.  

Highest Exports in November Were in "Plastics and Articles Thereof"

  In November, among chemical substances and products groups, plastics and articles thereof exports ranked first in chemical exports with USD 797,207,000. In second place was mineral fuels and products with USD 618,368,000 in exports, while inorganic chemicals exports ranked third with USD 302,342,000. Following inorganic chemicals, other sectors in the top ten were: essential oils, cosmetics and soap; rubber and rubber articles; pharmaceutical products; paints, varnish, ink and preparations; miscellaneous chemical substances; washing preparations; and organic chemicals.