Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Turkey builds up textiles trade with EU

Turkey’s textile exports to the EU increased 8.6 per cent year-on-year in 2016 while exports of apparel fell 2.3 per cent. The EU remains the largest exporting destination for Turkey’s textile and apparel products and the textile and apparel trade with the EU is expected to increase over the next few years. In 2016, over 64 per cent of total Turkish textile and apparel exports were destined for the EU.

Russian buyers are returning to Turkey after the political tension in November 2015 when Turkey downed a Russian jet. Textile and apparel exports from Turkey are also increasing to other markets like Iran, the US, Algeria, Israel, Poland and Bulgaria. Meanwhile, the depreciation of the Turkish lira is making exports easier.

Moreover, domestic market is also developing well and attracting more foreign investment. The domestic market is expected to grow by eight to ten per cent in 2017. An industrial rebound is expected in the country’s cotton production. The Turkish textile and apparel industry has a goal of doing exports worth 72 billion dollars in 2023. In order to achieve that target, Turkey has put increasing efforts to ensure national and regional stability and harmonious international trade relations.

 
LATEST TOP NEWS
 
 
MOST POPULAR NEWS