The “February 2023 Sector Report” prepared by the Association of Construction Material Producers (Turkey IMSAD) has been announced.
According to the report, industrial production of construction materials decreased by 3.4 percent in the last quarter compared to the last quarter of last year. Despite this, construction materials industrial production in the whole year increased by 0.2 compared to last year. The construction sector, on the other hand, grew by 2.0 percent in the fourth quarter of 2022 compared to the same period of the previous year, ending the decrease experienced in the last 5 quarters.
Despite the weakening in other sectors, the growth experienced in the construction sector was mainly driven by the base effect. However, it was stated that the fragilities in the dynamics of the recovery, which is taking place to a limited extent, continue.
The following information was included in the IMSAD Turkey February 2023 Sector Report
Construction materials industrial production increased by 4.4 percent in the first quarter of 2022 and by 2.1 percent in the second quarter. Production, which decreased in all months of the third quarter and decreased by 3.3 percent, contracted by 3.4 percent in the fourth quarter of the year. The contraction observed in the second half of the year was caused by a slowdown in external demand. According to the report, while production in 14 sub-sectors increased compared to the previous year in 2022, it decreased in 8 sub-sectors.
The sector in which production increased the most was ceramic coating materials with 19.8 percent, while the biggest decrease was experienced in the brick tile area with 12.7 percent. Plastic construction materials grew by 18.5 percent, electric lighting equipment by 14.1 percent, construction paints and varnishes by 13.2 percent, and ceramic sanitary ware by 13 percent.
Iron and steel production declined
Iron and steel construction products decreased by 12.2 percent, iron and steel radiators by 11.1 percent, lock and hardware goods production by 8.2 percent and cement production by 4.6 percent.