Published On: Sat, Jun 30th, 2018

Turkish steel exports continue to grow and contribute to Turkey’s economy substantially

Turkish steel exports continue to grow and contribute to Turkey’s economy substantially

TAT METAL Steel Factory – Turkey

 

Turkey’s export figures have made significant progress in recent years to parallel huge increase in import figures of the country. Some sectors such as automotive play a leading role in said progress and steel sector is no doubt among those most important sectors as well. Despite many obstacles such as tariffs imposed on the international arena the sector has been making consistent progress.

Indeed, based on figures circulated by official authority the sector has exported goods worth US$ 5.9 billion to nearly 200 countries January 1 – May 31 period and achieved a 20 percent increase compared to same period last year. This is despite a decrease in quantity which has gone down to 7.8 million tons corresponding to 5.1 percent decrease.

TAT METAL PLANT – Karadeniz Eregli, TURKEY

 

The important part is the Association of Steel Exporters expects to do much better in a global market with rising steel prices and targets to reach US$ 15 billion by end of 2018 corresponding to an increase of 30 percent as compared to last year.

The Association has been doing everything to protect Turkey’s share in current markets and provide guidance to Turkish exporters to include organization of trade delegations and other promotional activities. Moreover the establishment works in coordination with the Ministry of Economy through all the proceedings in the scope of various trade precautionary investigations against Turkish companies. The sector has also taken part in global projects realized by Turkey such as TANAP in which 80 percent of the steel used comes from Turkey.

Thanks to the quality and competitive prices of its products the Turkish steel industry ranks in top 8 in the world with exports to nearly 200 countries after China, Japan, India, USA, Russia, South Korea and Germany. The regions where the sector exports in big quantities are The European Union, the Middle East and North America. Despite the increasing tendency of European Union and North American steel demand, which are in a significant position in some of our exports, protectionism is prevalent in these markets, as well.

TAT METAL PLANT – Karadeniz Eregli, TURKEY

 

Southeast Asia is one of the regions where the Sector has a relatively small share, but necessary steps are planned to increase exports to said region covering Hong Kong, Singapore, Malaysia and Indonesia in specific, as well. On the other hand the officials of the sector are determined to carry out the necessary work to further increase exports to the EU and North American regions, which have large market potential.





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