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Turkey’s Q3 garment exports up 25 per cent

  

Turkey’s garment exports increased 25 per cent year over year in the first three quarters of 2021, reveals Turkish Statistical Institute figures. Exports of knitted and crocheted clothes and accessories climbed 35 per cent; exports of non-knitted apparel and accessories climbed 14.7 per cent; Carpets, mats, matting, and tapestries exports increased 34 per cent; exports of used clothes, other textile goods, and rags increased 19.7 per cent. Meanwhile, Turkey’s cotton, cotton yarn, and cotton textile imports surged 34.2 per cent.

Turkey is also facing a high rate of inflation. The nearly 20 per cent annual inflation rate is driven by food, services, housing and transportation prices, leaving consumers with little money for their clothing needs. So people are purchasing only the minimum necessary textiles for their daily needs. The decrease in domestic demand will impact manufacturing as textile-apparel companies will cut down on their production. Accompanying high inflation is the weakening currency. Turkey’s currency lira has lost around 25 per cent of its value since the beginning of 2021. Meanwhile, in addition to the high cost of fuel and other imports, the government this month raised the price of natural gas supplied to the industry by 48 per cent, as a global price spike drove up import bills.

 
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