In the same period, exports decreased by 12.7% in volume terms, while the average export price per kilogram increased to $8.7, leading to a rise in value terms.
Annualized consolidated machinery exports increased by 2.1% to reach $28.6 billion, while machinery imports rose by 7.3% to $46.8 billion.
Germany, the US and Italy stood out
In the first quarter, the highest exports were made to Germany with $833 million, followed by the United States with a 35.2% increase and $541 million, and Italy with an 8.9% increase and $319 million. Meanwhile, contractions of over 30% were observed in the markets of Iraq, Russia and Poland.
When sub-sectors are examined, the highest exports were recorded in internal combustion engines and their components with $638 million. This was followed by construction and mining machinery with $439 million and pumps and compressors with $378 million.
Exports also exceeded $300 million in the sectors of tractors, agricultural and forestry machinery, as well as industrial and household washing and drying machines.
“Türkiye continues to be a safe haven”
MAİB Chairman Kutlu Karavelioğlu drew attention to increasing geopolitical risks in global trade, stating that logistics crises in the Strait of Hormuz and the Red Sea route affect more than 10% of world trade.
Karavelioğlu stated that rising energy prices make cost management more difficult and noted that Türkiye continues to be an attractive center for qualified capital and human resources thanks to the operational continuity it offers in an environment of uncertainty.
Import pressure continues
Pointing out that production and demand in Europe have weakened, Karavelioğlu stated that global demand has not completely disappeared but has shifted toward investments focused on technology and efficiency.
On the other hand, he emphasized that the domestic machinery industry is facing increasing import pressure, noting that products originating particularly from the Far East are increasing fragility in the sector due to their impact on the domestic market.
Karavelioğlu also stated that he will hand over his position at the general assembly to be held on April 16.
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