Turkey: Machinery exports reach $4.3B in Q1

Dünya Executive - - OVERVIEW -

Turkey’s machinery exports reached $4.3 billion in the first three months of 2019, an exporters’ associatio­n said Monday. The sector’s exports soared 4.4% in the first quarter versus the same period in 2018, the Machinery Exporters’ Associatio­n (MAIB) said in a statement. Turkey’s machinery exports also rose by around 17% to reach 750,000 tons on the basis of quantity, the statement read. “In the narrowing global market, the world’s machinery exporters have to decrease prices, Turkish exporters are also affected from this situation,” said Kutlu Karaveliog­lu, the head of MAIB. During the last five quarters, the average price of Turkey’s machinery exports dropped to $5.6 per kilogram from $6.3, he added. He also said the MAIB focuses on emerging markets to take a greater share. Turkey’s machinery exports were $17.1 billion in 2018, while the export-to-import ratio in the machinery sector was 64%.

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