Published On: Sat, Mar 31st, 2018

Turkey is reported to be the second largest textiles supplier for EU countries

Turkey is reported to be the second largest textiles supplier for EU countries

Turkish Textile Company – BusinessTurkeyToday.com

Textile is known to be among the most important production sectors in Turkey as it provides the greatest added value to the country, with positive contribution to the current account deficit, as well. Turkey being aware of this fact, targets to increase textile exports in search of a well-balanced foreign trade budget and more prosperity, development, employment, production and investment.

On the other it is reported that the Turkish textile sector is the second largest supplier for EU countries and the seventh largest supplier in the world. Turkey has seen a foreign trade surplus of over USD 3.5 billion in home textiles, knitwear, woven fabrics and technical textiles group of goods.

Then again, it is noteworthy that the country exports to EU countries at a value above the EU average import unit prices. While the average unit price of the EU for textile imports is € 4.2, this figure goes up to € 4.5 euros for imports from Turkey. While the average unit price of Germany’s textile imports is € 4.9 euros, this price is recorded as € 5.5 Euro for imports from Turkey.”

In 2017, The Turkish Textile Sector maintained its position as the second largest supplier in Europe and the seventh largest in the world with a total export achievement of USD 10.1 billion. In the same period, Turkey managed to export to a challenging market such as the USA market, products worth more than half a billion dollars and at a unit price of 5 dollars per kg. On the other hand, Turkey also exported to Italy (known as a global fashion hub), products worth USD 866 million at an average price of USD 5 per kg.

In the past, there were opinions that the textile sector did not produce much added value whereas today it is observed that textiles is one of the sectors providing the highest “added value” to the country. In fact, textiles industry in Turkey is certainly one of the sectors with a positive contribution to the current trade account deficit of the country. The sector closed 2017 with a surplus of USD 1.6 billion in home textiles, USD 1 billion in knitted fabrics, USD 850 million in textiles, and USD 120 million in technical textiles.

It is reported that Turkish Textile and Ready-to-wear Sectors have given a surplus of more than US 200 billion in foreign trade, in the last 20 years.”





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