Chemical Exports Rise in Volume, Fall in Value

Turkchem 15 Dec 2015 59 3 dk okuma

TURKCHEM

The chemical sector's exports in November fell 12.53% in value to USD 1 billion 307 million.

Chemical sector exports in November declined 12.53% by value to USD 1.307 billion. For the January-November period, exports reached USD 14.196 billion.

Despite the value decline, volume-based exports in the same period increased 12.4% compared to the same period last year, reaching 15.6 million tonnes.

İKMİB data shows that the chemical sector achieved its highest exports in November to Iraq, Spain and Germany. United Arab Emirates, Egypt, United Kingdom, Italy, Greece, France and Iran ranked among the other top 10 countries for chemical exports. In November compared to the same month last year, exports rose 155% to Saudi Arabia, 93% to Greece, 89% to France, 52% to United Kingdom, 36% to Spain and 15% to United Arab Emirates. Looking at Turkey's critical chemicals sector exports for the first 11 months of 2015, the top three countries were Iraq, Egypt and Germany, followed by United Arab Emirates, Italy, Spain, Iran, Saudi Arabia, Greece and Azerbaijan-Nakhchivan. Russia, which has long held a place in the top 10 export rankings, continues to see declining chemical exports. Exports to Russia, a highly important market for chemical sales, fell 34% to USD 378 million in the January-November period.

İKMİB Chairman Murat Akyüz noted that 2015 has been a challenging year for exporters, stating:

"We are in the final month of the year. Global economic slowdown combined with domestic uncertainties has created difficulties for our exporters and industrialists. Despite all these headwinds, the chemical sector maintains its position among Turkey's top three export sectors. We believe 2016 will be a better year when we can surpass 2015 figures." Akyüz, highlighting concerns about ongoing tensions between Turkey and Russia and a shift toward alternative markets, stated: "Sanctions imposed by Western countries on Russia and continuing, along with declining commodity prices—particularly oil—and significant ruble depreciation have resulted in Russia's economic contraction, negatively affecting our chemical exports. The ruble has lost approximately 33% of its value against the US dollar compared to the previous year. Similarly, oil and natural gas prices, Russia's most important revenue sources, declined 33% compared to the same period last year. This situation negatively impacts Russia's purchasing power." İKMİB Chairman Murat Akyüz noted the long-standing strong cooperation between the two countries, stating: "Our expectation is that this cooperation not be sacrificed to political processes. However, given recent developments, the problem does not appear likely to be resolved soon. We will turn toward markets that can serve as alternatives to Russia."

Chemical sector exports in the first 11 months of the year

		2014-2015
	January-November 2013	Difference (%)	January-November 2014	January-November 2015
Product Group	Value ($)	Value	Value ($)	Value ($)
Glycerin, vegetable products, degras, fatty substances	644.901	10.02	605.680	666.383
Mineral fuels, mineral oils and products	4.692.866.142	-22.19	4.248.303.725	3.305.512.292
Inorganic chemicals	1.062.124.521	-8.25	1.141.664.842	1.047.423.881
Organic chemicals	521.364.269	-13.85	495.811.931	427.130.538
Pharmaceutical products	691.939.615	-4.60	787.297.899	751.083.124
Fertilizers	125.829.442	5.10	209.514.679	220.190.903
Paints, varnishes, inks and preparations	707.349.717	-10.52	711.530.902	636.648.995
Essential oils, cosmetics	648.747.999	-9.22	706.348.439	641.188.833
Soap and washing preparations	845.165.226	-13.92	932.940.963	803.029.852
Adhesives, glues, enzymes	180.919.847	-4.73	167.187.939	159.283.166
Gunpowder, explosives and derivatives	7.003.440	27.80	6.479.252	8.280.236
Photography and cinematography products	24.375.245	-35.37	17.764.004	11.481.051
Miscellaneous chemical substances	447.032.809	-2.56	460.808.673	449.008.462
Plastics and articles thereof	4.794.317.337	-10.93	5.272.392.402	4.695.952.659
Rubber and rubber articles	1.139.400.269	-17.84	1.265.524.434	1.039.801.194
Processed asbestos and mixtures, articles thereof	226.344	7.21	253.588	271.865
TOTAL:	15.889.307.124	-13.56	16.424.429.351	14.196.953.436

Which countries received the most chemical exports in November 2015?

Country	November 2014 Value ($)	November 2015 Value ($)	Change Value (%)
IRAQ	98,155,731.14	89,921,002.84	-8.39
SPAIN	50,182,754.60	68,438,512.83	36.38
GERMANY	68,717,498.59	67,804,242.57	-1.33
UNITED ARAB EMIRATES	58,523,524.12	67,576,936.51	15.47
EGYPT	133,140,672.81	65,803,604.06	-50.58
UNITED KINGDOM	35,775,614.57	54,496,510.85	52.33
ITALY	58,245,573.49	52,731,137.83	-9.47
GREECE	24,258,449.76	46,818,999.36	93.00
FRANCE	23,613,112.70	44,693,567.98	89.27
IRAN	47,995,038.39	40,578,669.60	-15.45

Chemical exports in 2015

	2014 ($)	2015 ($)	DIFFERENCE (%)
January	1,397,872,316.30	1,200,519,640.04	-14.12
February	1,449,038,447.14	1,179,150,468.94	-18.63
March	1,466,810,840.47	1,348,160,844.35	-8.09
April	1,487,779,336.37	1,447,399,135.34	-2.71
May	1,591,823,322.76	1,383,167,152.61	-13.11
June	1,524,137,513.33	1,423,600,099.15	-6.60
July	1,574,673,491.62	1,314,488,618.55	-16.52
August	1,431,805,577.15	1,190,142,015.31	-16.88
September	1,508,699,340.46	1,094,614,848.40	-27.45
October	1,496,461,232.08	1,307,731,099.33	-12.61
November	1,495,327,932.83	1,307,979,513.76	-12.53