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Turkey and Portugal gain US market share

Turkey and Portugal are expanding their share in the US market. Together both will represent around 5 per cent of the American market. This is happening as a result of several factors including increased prices from Asia that are making the European exporters more competitive in the U.S. Secondly, shifting priorities, especially in China, are redirecting resources to other, more value-added industries like technology and automotive and away from textiles production. Global politics and threatening tariff increases by the Trump administration are causing U.S. importers to look to other sources for product outside of Asia.

Russia and Iraq have always been Turkey’s prime export markets. These two countries are going through, respectively, economic and political crisis, causing suppliers there to look elsewhere for business. For Portugal, its main trading partner, Spain, is also experiencing widespread economic hardship including massive unemployment. The answer for both Turkey and Portugal has been America. These factors make Portugal and Turkey more attractive resources for American importers.

 

 
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