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Türkiye's iron and steel exports up 15% in February

Türkiye realized exports of 2.4 billion dollars in the iron and steel sector with an increase of 15 percent in February. Exports from the Mediterranean increased by 72 percent to 201 million dollars.

Türkiye's iron and steel exports up 15% in February

In the first two months of the new year, Türkiye started with record exports. The iron and steel sector also joined this growth. In February, Türkiye's iron and steel exports reached 2.4 billion dollars, up 15 percent compared to the previous year. In the same period, exports from the Mediterranean increased by 72 percent to 201 million dollars. ADMIB's steel exports also recorded an increase of 129.5 percent.

Türkiye's exports in February amounted to 21 billion dollars. This increase, which corresponds to an increase of 13.6 percent, is very important. In February, Türkiye's ferrous and non-ferrous metals exports lost 1.6 percent, but grew by 985 million dollars. Steel exports, on the other hand, gained 1.4 billion dollars with a huge increase of 31.2 percent. Exports from the Mediterranean increased by 72 percent to 201 million dollars. Türkiye's iron and steel exports increased by 15 percent in February to about 2.4 billion dollars, while ADMIB's steel exports increased by 129.5 percent.

Based on the first two months of 2024, exports of ferrous and non-ferrous metals decreased by 6.1 percent to 1.9 billion dollars. Exports of the steel sector increased by 15.8 percent to 2.5 billion dollars. Total exports of these two sectors grew by 5 percent, reaching 4.4 billion dollars.

Iron and steel exports from the Mediterranean increased by 72 percent

In February 2024, according to the data shared by the Mediterranean Ferrous and Non-Ferrous Metals Exporters' Association (ADMIB), exports of ferrous and non-ferrous metals increased by 7.3 percent to 60 million dollars, while steel exports reached 141 million dollars with a huge increase of 129.5 percent. Total exports of the two sectors increased by 72 percent to 201 million dollars.

When the export figures announced by the General Secretariat of the Mediterranean Exporters' Associations in the January-February period are analyzed, exports from the ferrous and non-ferrous metals sector decreased by 1.4 percent to 123 million dollars, while exports from the steel sector increased by 71 percent to 262 million dollars. The total increase in the sector increased by 39 percent in this period, reaching 384.5 million dollars in exports.

Record increases in target markets

In February, Germany was the leading country in Türkiye's iron and steel exports and ranked first with 180 million dollars of exports. Italy ranked second with 152 million dollars and Romania ranked third with 149 million dollars. While there was an increase in exports in general, the most remarkable increases were experienced in exports to Romania with 91 percent, Iraq with 66 percent and Spain with 51 percent.

The leadership in ADMIB's exports in February passed to Belgium. Belgium ranked first with exports worth 24 million dollars. Belgium was followed by Iraq with 18 million dollars and Egypt with 16 million dollars. While increases were observed in exports in general, the biggest increases were realized in exports to Estonia with 1150 percent, to Belgium with 856 percent and to the USA with 324 percent.

More contributions will be made in the second half of the year

Fuat Tosyalı shared his assessments for 2024. Regarding the issue, Tosyalı said that they were in expectation in the second half of 2024 for the postponed demands, and expressed his happiness with these unexpected positive feedbacks. While evaluating the export data for February 2024, ADMIB President Fuat Tosyalı stated that the momentum in exports started in the new year. Pointing out that the second half of the year will be better, Tosyalı added that there has been a prolonged contraction in demand in the iron and steel sector due to global uncertainties and inflationary environment.

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