Construction materials production down in February

Construction materials production down in February

Construction materials production down in February

The construction materials production industry’s output declined by 10.3 percent in February from a year ago, according to data from the Association of Turkish Construction Material Producers (İMSAD).

Production in 15 sub-sectors out of a total of 22 fell in the month, the association raid in a report, noting that the production in the industry was deeply affected by the earthquakes which hit several provinces in early February.

Production activity, however, gathered momentum in March as the effects of the earthquakes started to subside, the report noted.
Cement production fell nearly 28 percent in February. Floorboard and floor covering output was down 19 percent, while iron and steel construction materials production plunged 30.8 percent from February 2022.

Construction materials production in the earthquake-hit areas came to a complete halt, while production slowed in the other regions of the country, the İMSAD report said.

New housing, building and infrastructure investments planned in the 11 provinces, which were affected by the earthquakes, will create business opportunities for the industry, according to the association.

The existing construction activities index rose by 3.2 points, but the new construction orders index declined 0.2 points in April from the previous month, said the report by the association.

Construction materials exports plunged nearly 23 percent in February on an annual basis to $2.13 billion.

“Exports have been on a decline since September 2022. Both the earthquakes and the contraction in the construction sectors in the main export markets adversely affected exports,” the association said.

The report also noted that Turkish contractors were awarded 52 projects abroad with a value of $4.05 billion in the first quarter of 2023. In the same quarter of 2022, Turkish companies were awarded 74 projects worth $3.08 billion.

Türkiye, Economy,