Germany, UK, Spain absorb half of Turkey’s textile exports
Turkey’s ready wear and confection sector shipped goods to more than 160 countries in August but, three countries, namely Germany, the U.K and Spain absorbed nearly half of the industry’s $1.5 billion worth exports in the month.
The sector’s export increased nearly 11 percent on an annual basis in August, according to data by state-run Anadolu Agency.
In August, the ready wear and confection industry became the largest exporting market, overtaking the automotive sector.
The industry’s shipments to Germany rose by 7 percent year on year to $271 million, making it local ready wear and confection companies’ largest export market.
Spain purchased $250 million worth of textile products from Turkey in August, a 14 percent increase on an annual basis.
The U.K was the third-largest export market for garment companies as it increased its imports from Turkey by 27 percent to some $184 million.
The industry’s exports to the Netherlands rose 33 percent to $125 million while shipments to France went up 11 percent to $78 million in the month. Exports to the U.S leaped 30 percent year on year to $72 million.
The sector’s exports to the European Union jumped nearly 16 percent to stand at $1.2 billion, according to the data.
Exports by Istanbul-based companies increased by 6.5 percent to reach $1 billion.
In the first seven months of the year, Turkey’s ready wear and confection exports, however, declined by 12 percent compared with the same period of 2019 to stand at $10.3 billion.