In Türkiye, 10.3% of exports are from the iron and steel sector

At the beginning of the new year, Türkiye's total exports increased, with the iron and steel sector accounting for 10.3%.

Demand in the steel sector increased despite the global downturn, with a 2.1% surge. Industry representatives anticipate that postponed demand will lead to an increase in the second half of the year. Fuat Tosyalı, President of ADMIB, stated that the increase in the steel sector is uplifting and that they expect exports to increase in 2024. Türkiye's total exports were up 3.6% to more than $20 billion, but there was a 10.5% decline in ferrous and non-ferrous metals.

On the other hand, steel exports increased by 2.1%. This increase was seen as a promising sign in the steel sector, which experienced a decline last year. Exports of ferrous and non-ferrous metals accounted for 4.7% of total exports, while steel exports accounted for 5.6%. In January, ADMIB's ferrous and non-ferrous metals exports decreased by 8.5%, while steel exports increased by 32.3%.

In January, Germany ranked first in Türkiye's iron and steel exports with 178 million dollars. Italy followed Germany with 113 million dollars and Romania with 105 million dollars. In the top 10 markets, significant increases were recorded in exports to Spain by 42%, Romania by 32% and the United Kingdom by 28%.

Algeria ranked first in ADMIB's exports with exports of 16.9 million dollars. It was followed by Iraq (16.3 million dollars) and Germany (12.3 million dollars). In the top 10 markets, there was a 465% increase in Greece, 260% in Algeria, 90% in Romania and 79% in the United Kingdom.

Analyzing the export data in January, ADMIB President Fuat Tosyalı stated that there was an increase of 17% in the iron and steel sectors on a quantity basis. Emphasizing that the increase in orders was pleasing, Tosyalı stated that there was an uplifting increase especially in the steel sector. Stating that their quality is globally competitive, Tosyalı added that they think that demand will increase further with price competitiveness. Stating that they expect more demand in their sector in the upcoming period, Tosyalı said that they will focus on complying with the EU Green Deal and meeting the demands through capacity increases. Stating that they believe that the investments commissioned last year will contribute positively to production and exports, Tosyalı noted that their goal is to increase their share in world trade and make maximum contribution to the national economy.