Page 30 - TURKRptDec20

Turkey's chemical industry has cut its export target for 2020 by $1bn to $19bn while the country's ready-wear industry has hiked its export contraction forecast for the year to 15% y/y from the previous 10%. Both moves were made as a result of the coronavirus (COVID-19) spike hitting export markets, business daily Dunya ​reported​ on November 16.
The textile and ready-wear sector registered around $26bn worth of exports in 2019.
Chemical exports declined by 11% y/y to $1.73bn in October. At the beginning of this year, the chemical industry targeted $22bn worth of exports.
International oil traders believe that the oil markets, which can negatively impact the petrochemical industry when associated logistics and transportation suffer in a downturn, will stabilise in 14-24 months, Adil Pelister, head of the Turkish chemical exporters association IKMIB, has told Dunya.
The volume of goods passing through border gates also declined in November, representatives of the Turkish transporters’ association informed the daily.
Around 35% of car dealerships in Europe have already shut down, Haydar Yenigun, head of Turkish automotive producers association OSD, told the newspaper.
30​ TURKEY Country Report​ December 2020 ​ ​www.intellinews.com