Business is booming.

42.4 percent increase in ferrous and non-ferrous exports

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Exports, excluding iron and iron, exceeded 6.5 billion dollars.

ISTANBUL (IGFA) – Istanbul Ferrous and Non-Ferrous Metals Exporters’ Association (IDDMIB) announced the export figures for May and the first five months. While exports in May amounted to $1.19 billion, there was an increase of 24.9 percent compared to May of the previous year. The share of the division in Turkey’s total monthly exports was 6.2 percent.

In the lower section exports, the highest export was realized in the Aluminum work cluster with 558.9 million dollars. The Aluminum branch was followed by Metal Goods with $200.2 million, Copper artifact clusters with $200.1 million and Iron and Steel Products with $183.2 million.

In May, exports to European Union countries, the region where the most exports were made, increased by 40.1 percent to $699.5 million. On a country basis, the highest amount of exports was made to Germany with 174.9 million dollars, while Italy ranked second with 97.4 million dollars and the USA took the third place with 77.1 million dollars.

INCREASE IN FIVE MONTHS 42.4 PERCENT

Looking at the January-May period of 2022, Turkey’s total exports increased by 20.4 percent, while the increase in the Ferrous and Non-Ferrous Metals section reached $6.58 billion with 42.4 percent. Thus, the share of the division in total exports increased to 6.4 percent.

In five months, the most exports were made to Germany with 947 million dollars. Italy followed Germany with 516 million dollars and the USA with 385 million dollars.

Istanbul Ferrous and Non-Ferrous Metals Exporters’ Association (IDDMIB) Executive Council Leader Çetin Tecdelioğlu said that the export momentum of the branch is accelerating gradually. Tecdelioğlu noted that they aim to increase both the export unit price and total exports by giving priority to projects with high added cost, and that they are also working hard to find new export markets.

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