Turkey named world’s sixth largest textile exporter

Turkey named world’s sixth largest textile exporter

Turkey named world’s sixth largest textile exporter

DHA Photo

Turkey was named the sixth largest textile and confection exporter of the world by making around 4 percent of such exports globally in 2014, according to a note released by the Turkish Statistics Institute (TÜİK) on Aug. 25. 

China topped the list with 41 percent, followed by India with 5.4 percent, Italy with 5.3 percent and Germany with 5 percent. 

The share of the sector in Turkey’s total exports was 18.7 percent in 2014 in value with around $29.5 billion, according to the note. This rate was around 40 percent in 1995, but decreased to 26 percent in 2005 and 19.3 percent in 2010, said the note. Today, the leading exporting sector of Turkey is the automotive sector. 

The 2014 exports of Turkey increased some 4 percent last year, reaching $157.6 billion, a record in the history of the modern republic, according to figures released by the Turkish Exporters’ Assembly (TİM). Car sales have been a major driving force, netting $22.3 billion, along with textiles and chemicals. 

There has also been a decrease in the share of textiles trade in the world. While the share of the sector was 7 percent in global trade in 1995, this rate dropped to 4.6 percent in 2014. 

The report also said Turkey was one of the three countries which gave a trade surplus in the sector. China’s textiles sector’s trade surplus was $264.6 billion in 2014, followed by India with around $33.7 billion and Turkey with around $16 billion. These countries were followed by the United States, Japan, Britain and Germany.