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Plastic exports increased by 8 percent in May

Our Complete value chain of oil processing & transportation 10 Aug. 2017
  • Michale John

Plastic exports increased by 8 percent in May

The five-month exports of the chemical industry in January-May amounted to 8 million 95 thousand tons with an increase of 15.54 percent and a value of 6 billion 685 thousand dollars with an increase of 17.20 percent. In the 5 months of the year, exports to Russia rose by 35 percent, making China one of the top 20 exports. In the second half of the year, the chemical industry aims to move up the upward trend in exports with the demand from EU countries and Russia.

Record export figures continue to come from the chemical industry, which is among the top three contributors to the Turkish economy. According to the data of Istanbul Chemicals and Exporters Association (İKMİB); Chemical exports in May of 2017 amounted to 1 billion 539 thousand tons with an increase of 27.10 percent and 1 billion 329 million dollars with a value of 17.48 percent when compared to the same month of 2016. The top 10 export destinations in May were: United Arab Emirates, Iraq, Gabriel Tarik, Germany, Italy, USA, Greece, Egypt, Iran and England. The increase in exports to the United Arab Emirates, which ranked first, was 566 percent.

May exports plummeted to first place

In May, the sub-sectors exported chemicals the most with added plastics and products, while the strongest increase was in mineral fuels and oils. Plastics and products in May increased by 8.42 percent and 457 million 546 thousand dollars in exports with the first place. Mineral fuels, oils and products increased by 60.69 percent to 295 million 312 thousand dollars in exports, while the third place increased by 8.51 percent and 106 million 62 thousand dollars in rubber and rubber goods.

EU countries' share of chemical exports is increasing

European Union countries continue to increase their exports of chemicals. Germany, Italy and Greece were among the top 10 exporting countries in May by the chemical sector. 2.22 percent in Germany, 33.72 percent in Italy, and 45.44 percent increase in exports to Greece.

Chemical exports reached 6 billion 685 thousand dollars in the first five months

The exports of the chemical sector reached 8 million 95 thousand tons with a 15.54 percent increase compared to the same period of the year we exported in January-May period and the value increased by 17.20 percent to 6 billion 685 thousand dollars. The top ten countries exported the most in this period; United Arab Emirates, Germany, Iraq, Egypt, USA, Italy, Singapore, Iran, Spain and Greece.

Mr. Murat Akyüz, Chairman of the Board of Directors of the Association of Exporters of Products and Products of Istanbul (İKMİB), who evaluates the export figures of January-May period, said: "We see very good developments when we look at the export figures of the year for five months. May was a month when we experienced a re-splash in our exports. We have increased 27.10 percent in value, 17.45 percent in value. The increase in demand from the EU countries played an important role in this rise. Normalization also has a positive effect on commercial relations with the EU countries, which are experiencing tension mainly in Germany. It is also important for Russia to become one of the top 20 export markets. The exports we are making to Russia each month are increasing and the country is taking us even further up the line. Exports to Russia in the first five months increased by 35 percent. Another noteworthy development is the upward movement in exports to China. In January-May period, exports to China increased by 51.21 percent, bringing the country among the 20 most exported countries. We see that the positive picture will continue in the second half of the year. We believe that the investments to be made in Turkey in the coming months will also increase. So everything will reach a much better spot. "