Construction Materials Industrialists Association (Türkiye İMSAD) announced the December and 2024 results of the Construction Materials Industry Foreign Trade Index. The report stated that the stagnation in global demand, the appreciation of the Turkish lira, the decline in commodity prices and geopolitical developments negatively affected the sector.
Decrease in Imports
The import of construction materials in 2024 decreased by 0.3% in terms of value, reaching 11.31 billion dollars. Also in terms of quantity, import of construction materials decreased by 13.7%, dropping to 3.71 million tons. The sector's annual average import unit price increased by 14.6%, rising to 3.6 dollars.
Mixed Trend in Sub-Sectors
Four out of the eight sub-sectors of the construction materials industry increased their exports in 2024, while the other four sectors saw a decline. Exports of electrical materials and equipment rose by 2.7%, reaching 4.8 billion dollars. Exports of chemical-based products increased by 1.2%, rising to 2.86 billion dollars. Exports of wood and wood products saw a 1% increase, reaching 1.31 billion dollars. Exports of insulation materials grew by 0.1%, totaling 200 million dollars.
On the other hand, exports of iron and steel products decreased by 0.5%, falling to 10.3 billion dollars. Exports of mineral stone and soil products saw a 3.1% decline, dropping to 4.87 billion dollars. Exports of metal-based products fell by 2.3%, reaching 4.4 billion dollars, while exports of prefabricated structures decreased by 6.5%, dropping to 277 million dollars.
These changes in the sector demonstrate that global economic fluctuations and regional developments have a direct impact on the trade of construction materials.
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