Chemicals Become Turkey's Second-Best Exporting Sector in October
In October, Turkey's exports reached $23.6 billion, marking a 3.6% increase compared to the same period last year. The automotive sector ranked first with exports of $3.5 billion, while the chemical sector followed as the second largest export sector with $2.47 billion in exports. Ömer Karadeniz, Chairman of the Federation of Plastic Industrialists, stated that plastics and their products led the category of chemicals and their derivatives with an export value of $819 million.
According to the data from the Turkish Exporters Assembly (TİM), the chemical sector's exports increased by 2.7% to reach $26 billion in the first ten months of 2024. Following plastics, mineral fuels and products secured the second spot with exports of $442 million, while inorganic chemicals trailed with $240 million. The top ten list also included various product groups such as essential oils, cosmetics and soaps, rubber and goods, as well as paints and preparations.
Record High Exports in October Ömer Karadeniz emphasized that October's exports of $23.6 billion represented the highest October exports recorded to date. He noted the significant importance of exports for economic growth, international relations, and the competitiveness of businesses, stating that being competitive in global markets plays a critical role in enhancing a country's economic prosperity.
Karadeniz mentioned that there was an increase of approximately $800 million in exports compared to the previous year, based on TİM data. He noted that total goods exports rose from $209.7 billion to $216.4 billion in the first ten months of 2024. As the umbrella organization PLASFED, Karadeniz highlighted the necessity of supporting businesses in the sector, stating that Turkey's economy has strengthened by focusing on innovation, production, investment, employment, and exports despite global economic challenges.
Need for Government Support and Access to Finance Ömer Karadeniz stressed the importance of continuous government support for Turkey's exports. Government support for exports and ease of access to finance are among the priority areas in the sector's economic recovery process. He asserted that as plastic industrialists, they would continue to work hard to achieve their goals, aiming to enhance the sector's positive contributions to the country despite economic conditions.