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Turkish steel industry foreign trade data announced

According to data released by the Turkish Steel Producers Association for June, the steel foreign trade balance recorded a decrease. While there was a sharp decrease in export demand, imports increased significantly.

Turkish steel industry foreign trade data announced

Steel production decreased while consumption increased compared to the same month of last year

In June 2023, Türkiye's crude steel production decreased by 1.5% y-o-y to 2.9 million tons.

In the January-June period, production decreased by 16.3% to 15.9 million tons.

Finished product consumption was 3.3 million tons in June, up 27.4% from the same month of 2022, and 19.9 million tons in the January-June period, up 15.8%.

Import volumes increase as export demand is reflected in the figures

In June, steel exports decreased by 40.8% to 875.9 thousand tons in quantity and 52% to 740 million dollars in value.

In the January-June period, compared to the same period of 2022, exports decreased by 46.5% to 4.5 million tons in quantity and 52.5% to 3.9 billion dollars in value.

In June 2023, imports increased by 12.1% to 1.5 million tons in quantity and decreased by 9.6% to 1.3 billion dollars in value compared to the same month of 2022.

In January-June period, compared to the same period of 2022, imports increased by 23% in quantity to 9.5 million tons and decreased by 4.3% in value to 8.1 billion USD.

Foreign Trade Balance decreased to 47.9

In the first half of 2023, the exports-to-imports ratio decreased to 47.9% from 96.7% in the first half of 2022.


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