Turkey imported 1,100 circular knitting machines in the first six months of 2018. Compared to last year, volume fell from 1,132 circular knitting machines and the value also dropped. The decline in imports was driven by overvaluation of foreign exchange rates and high interest rates.

China tops the list of the countries that exported circular knitting machines to Turkey (391 machines). The cost of these machines was valued at 11.4 million dollars. Last year, China stood second with 270 circular knitting machines at 8.4 million dollars.

Germany holds the second position with 290 circular knitting machines worth 21.5 million dollars. With 369 machines at 26.2 million dollars in 2017, Germany witnessed drops in both volume and value in the current fiscal.

Countries like Italy, Japan, Taiwan, South Korea saw major decline in machinery exports to Turkey. However, against these, the UK exported 165 circular knitting machines valued at 0.71 million dollars while last year the volume was just eleven machines worth 0.49 million dollars.

Turkey is one of the world's leading manufacturers of knitted fabrics. As Turkey’s textile exports grow, the country’s textile manufacturing companies will have to upgrade their machinery, parts and components, as well as the manufacturing processes.