Chemical Sector's Exports Reach $25.6 Billion in First 9 Months

Chemical Sector's First Nine Months Exports Reach USD 25.6 Billion According to data from the Turkish Exporters Assembly (TİM), Turkey's exports in September increased by 9.2% year-on-year to USD 22.6 billion. The chemical sector, which was the export champion in September, achieved exports worth USD 2.9 billion. The sector's first nine-month exports grew by 40.2% to reach USD 25.6 billion. The chemical sector remained the leading exporting sector in September. The sector, which accounted for 14.7% of national exports, increased its exports by 28.1% year-on-year, reaching USD 2.9 billion in export value. The chemical sector, export leader for the seventh consecutive time with September, achieved exports of USD 25.6 billion in the first nine months and grew by 40.2%. [caption id="attachment_137669" align="aligncenter"] İKMİB Chairman of the Board Adil Pelister[/caption]

Commenting on the chemical sector's September export figures, İKMİB Chairman of the Board Adil Pelister stated the following:

"Our chemical sector achieved first place for the seventh consecutive time in September with exports worth USD 2.9 billion. During the January-September period, it maintains export leadership. In the nine-month period, our sector exports reached USD 25.6 billion with a 40.2% increase. Considering the global developments we are facing, this success becomes even more significant. In this regard, I heartily congratulate all our exporters. On the other hand, energy supply disruptions due to the Russia-Ukraine war create a serious burden on our raw material and energy costs. There are expectations of stagnation and recession in the global economy. Therefore, there are risks for our exports in the final quarter. To minimize these risks, it is of great importance to provide exporters with easier access to financing and support. As İKMİB, we place emphasis on activities such as sectoral trade delegations, fair national participations and purchasing delegations that will contribute to our sector's exports. We will continue to work to navigate this process together with minimal damage."  

Russia became the top export destination

Russia was the top export destination in September. The other countries in the top ten following Russia in September were Lebanon, Romania, Netherlands, Iraq, Germany, South Africa, Italy, USA and Spain. The largest increase among the top 10 countries in September was 290.30% to Russia. Chemical exports to Russia in September reached USD 202,094 thousand. This represented an increase of 290.30% compared to the same period last year. The top five product groups exported to Russia in September were, in order, plastics and plastic products, paints, varnishes, inks and preparations, essential oils and cosmetics and soap, mineral fuels and mineral oils and products, and inorganic chemicals. During the January-September 2022 period, the top ten countries for chemical exports were, in order, Netherlands, Italy, USA, Romania, South Africa, Germany, Lebanon, Russia, Spain and Iraq.

Plastics and plastic products exports ranked first in chemical exports with USD 876,588 thousand

In September, plastics and plastic products exports ranked first in chemical exports with USD 876,588 thousand. Mineral fuels and products ranked second with exports of USD 841,410 thousand, while inorganic chemicals exports ranked third with USD 302,665 thousand. The other sectors in the top ten following inorganic chemicals were essential oils, cosmetics and soap, paints, varnishes, inks and preparations, rubber and rubber goods, pharmaceutical products, miscellaneous chemicals, cleaning preparations and organic chemicals.