White goods market contracts in first half

White goods market contracts in first half

White goods market contracts in first half

White goods sales declined by 8 percent in January-June compared with the same period of last year, according to a trade group.

From January to June, 4.3 million units were sold on the domestic market, the White Goods Manufacturers’ Association (TÜRKBESD) said, noting that the industry’s exports grew by 1 percent on an annual basis to 12.9 million units.

“Data show that despite the increases in the prices of raw materials and energy, the ongoing war in Ukraine and the rise in inflation in our largest export market, the industry maintained its strong performance in exports,” said Can Dinçer, the head of TÜRKSBED.

Dinçer noted that the local white goods industry accounts for 7 percent of global production and produced 199 million units over the past 10 years, with exports rising 16 percent last year.

“The contraction in the domestic market has been going on since the start of the year. Some measures such as raising the number of installments on credit cards and scrapping the special consumption tax could give a boost to demand for white goods,” he said.

In June alone, domestic sales fell by 2 percent from a year ago to 760,000 units, while exports shrank 6 percent to 2.1 million units.

Türkiye, Economy, TURKEY,