The ferrous and non-ferrous metals sector exported $1.1 billion in the month, down 5.7 percent, while the steel sector exported $1.35 billion, down 25.1 percent.
Ferrous and non-ferrous metal exports accounted for 5.8% of Turkey's total exports, while steel accounted for 7.3%. The two sectors accounted for 13.1 percent of Turkey's exports in August.
Despite stagnant demand in the sector, its growth in the African market was notable. While exports from Turkey to Morocco increased by 90 percent, exports from the Mediterranean region reached 346 percent in Ethiopia, 143 percent in Algeria and 16 percent in Egypt.
According to the Association of Mediterranean Ferrous and Non-Ferrous Metals Exporters (ADMIB), the ferrous and non-ferrous metals sector exported $60.5 million, down 18.7 percent from the same period last year. During the month, steel exports fell by 43 per cent to $134.9 million.
Revived exports to the African market
Germany ranked first in Turkey's iron and steel exports in August with a share of 207 million dollars. Germany was followed by Israel with $128.6 million and Iraq with $118 million. The 90 per cent increase in exports to Morocco, one of the top 10 export markets, was notable.
Iraq ranked first in ADMIB exports with $16.4 million, followed by Algeria with $14.8 million and Egypt with $13.1 million. While Ethiopia was the fastest growing market with a 346 per cent increase, Algeria grew by 143 per cent, Romania by 112 per cent and Egypt by 16 per cent.
Comments
No comment yet.