Exports of construction materials in Turkey amounted $2.24 billion in January

According to the January results of the Construction Materials Industry Foreign Trade Index prepared by Turkey IMSAD, there was a decrease in exports in the first month of the new year. Exports, which amounted to $2.24 billion in January 2023, decreased by 6.3 percent compared to the same period of the previous year. According to the report, exports amounted to 3.56 million tons in the first month of the new year in terms of quantity, while in terms of average unit price, it increased by 13.5 percent compared to the same period of the previous year with 0.63 dollars / kg.

Turkey IMSAD Construction Materials Industry Foreign Trade Index for January 2023 results have been announced. According to the report, the slowdown trend in foreign trade, which was traditionally seen in January, continued in 2023. Due to the contraction in the markets, construction materials industry exports decreased by 6.3 percent in January compared to the same period last year and amounted to $2.24 billion.

According to the results of the Turkey IMSAD Foreign Trade Index, one of the lowest monthly exports of recent periods was experienced in terms of value. In January 2023, construction materials exports decreased to 3.56 million tons in terms of quantity compared to November and December of 2022. As a result of this situation, which emerged with the effect of the decline in the market, exports decreased by 17.5 percent compared to January 2022. The average annual export unit price of the construction materials industry increased by 13.5 percent in January compared to January last year. While the average export prices in January 2022 were 0.55 dollars / kg, this situation increased to 0.63 dollars / kg in January 2023. 

According to the report, which is carefully followed by economic circles and the construction sector; In January 2023, imports of construction materials amounted to $892 million. This figure was an increase of 22.7 percent compared to January of the previous year. In the first month of the new year, imports showed a great increase not only in quantity but also in value compared to the same period last year. Accordingly, the unit price of imports, which amounted to 353 thousand tons in January, was 2.53 dollars / kg. 

Depending on the export performance of January 2023, annual (last 12 months) construction materials exports decreased by 0.5 percent to $33.59 billion. The amount of exports decreased by 1.3 percent annually to 56.89 million tons. The average export unit price also increased by 22.1 percent annually to $ 0.59 / kg. According to the report, annual exports of construction materials began to decline in the last months of 2022. The slowdown in markets and the downward trend in export performance continued in 2023. 

The export performance of the sub-sectors in the construction materials industry generally decreased in January 2023. In January 2023, average export unit prices in all eight sub-product groups increased compared to January 2022. Despite the downward trend in global commodity and final product prices, prices remained above last year. Accordingly, in the first month of the new year, the average export unit price of mineral, stone and soil products increased by 16.7 percent compared to the same month last year. The average export unit price of iron and steel products was 8.2 percent compared to the same month of last year, the increase in metal-based products was 3.0 percent, insulation materials was 22.2 percent, and the average export unit prices of wood and wood products was 6.2 percent.

In January 2023, exports in four of the eight sub-product groups were below January of last year in terms of quantity, while in four sub-sectors they were above January of last year. In terms of quantity, export decreases were 20.6 percent in iron and steel products and 20.4 percent in mineral, stone and soil products. Exports of metal-based products decreased by 18.7 percent and exports of insulation materials decreased by 22.5 percent. Exports of chemical-based products increased by 50.6 percent in quantity.

In January 2023, the increase in exports in terms of value was 24.2 percent in chemical-based products, 16.9 percent in wood and wood products, and 8.0 percent in electrical materials and equipment compared to January last year. Exports decreased by 14.2 percent in iron and steel products, 7.4 percent in mineral, stone and soil products and 16.1 percent in metal-based products. 

The report also emphasized that reconstruction activities in the 11 provinces hit by the earthquake will cause decreases in construction materials exports in the coming months.