While Turkish furniture, paper and forestry products exports fell by 6,8 percent in February, exports from the Mediterranean increased by 1 percent. The sector managed to grow in its target markets in February, both in Turkey and in exports from the Mediterranean. The sector, which grew in the UK and US markets, had another market where the most notable growth was in February: Libya.
Turkey's furniture, paper and forest products sector's February exports decreased by 6,8 percent compared to the same month last year, reaching 607 million 620 thousand dollars. The Mediterranean Furniture, Paper and Forest Products Exporters' Association (AKAMİB) recorded a 1 percent increase in exports this month, reaching 77 million 867 thousand dollars.
Growth continued in target markets
The sector's most successful top five markets in Turkey's February exports were Iraq, the United Kingdom, Libya, the United States and Morocco. Among the top 10 markets, export increases of 98 percent to Libya, 24 percent to Georgia and 16 percent to the United Kingdom were notable. The United States, which is among the sector's main target markets, saw a 3 percent increase.
Iraq also ranked first in AKAMİB's February exports. Iraq was followed by Syria, Germany, France and Libya, respectively. Among the top 10 markets, exports to Syria increased by 121 percent, Libya by 30 percent and the TRNC by 25 percent. Exports to the US and the UK increased by 7 percent and 1 percent, respectively, from target markets.
“We must be strong in price competitiveness”
Evaluating the sector's exports for February, AKAMİB President Onur Kılıçer stated that the sector had difficulty in keeping prices due to the widening gap between exchange rate and inflation. Expressing that they hoped that the current situation would improve especially from the second half of the year, Kılıçer continued as follows:
“The decline in policy interest rates and the reduction of rediscount credit interest rates are important steps. We also welcome the reduction of the foreign exchange requirement for exporters from 30 percent to 25 percent with the regulation. Our wish is to reach more customers and increase our orders. For this, we need to be strong in price competitiveness. As AKAMİB, we will continue our activities that will reach our member companies to our target markets and increase our exports at full speed during this period.”
