Page 64 - TURKRptNov19

9.1.5 ​Metallurgy & mining sector news
9.1.6 ​Other sector news
Turkey’s combined sales of refrigerators, ovens, washing machines and dish washers increased by 1% y/y on an annual basis to 507,855 units in September​, according to business group TURKSBED, It added that sales were expected to gain further traction in the remainder of the year.
Sales of the four main white goods appliances, however, tumbled 11% y/y to 4.45mn units in the January-September period.
Also according to data from the association, the market for refrigerators, ovens, washing machines, dish washers, deep freezers and tumble dryers expanded 7% y/y to 569,445 units in the ninth month.
Can Dincer, head of TURKBESD, noted that the government’s decision to eliminate VAT on white goods helped local producers increase their sales in the first half.
“But the local market contracted sharply in July when the VAT cut expired. Sales picked up in September and we expect further improvement in sales in the coming months,” Dincer told reporters in Istanbul on October 21.
The government cut VAT from 6.7% to zero temporarily.
The revival in the housing market will also support the white goods industry, according to Dincer.
Back in July, Dincer predicted a 15% contraction for the Turkish white goods market in 2019.
When asked if he would revise his forecast for this year, he said: “We expect the recovery in sales to continue.”
The white goods industry’s exports showed a 1% y/y increase in the first nine months of the year, reaching 16mn units.
Turkey’s white goods producers export nearly 70% of their output. Dincer warned that exports may be adversely affected from Brexit trade
64​ TURKEY Country Report​ November 2019 ​ ​www.intellinews.com