In August 2023, the Turkish textile and raw materials industry, which is recognized as one of the prominent textile exporters globally, had a decline in its export rate of 8.4%, resulting in a total value of 973 million dollars.
Based on the data published by the International Trade and Health Information Bureau (ITHIB), there was a notable 12.5% surge in the export of textiles and raw materials in August 2023 when compared to the preceding month. However, this growth was accompanied by a decline of 8.4% in comparison to the same period in August 2022.
In August, the total exports of Turkey had a growth rate of 1.6%, reaching a value of 21.6 billion dollars. According to the data, the proportion of the textile and raw materials industry in Turkish exports was documented as 4.5%, although its contribution to industrial exports was recorded at 6.4%.
Upon examining the overarching structure, it is evident that there was a decrease in performance from January to August 2023 as compared to the same time in the previous year. Furthermore, it is worth noting that there was an 8.4% decline in the overall exports of textiles and raw materials during the month of August in the year 2023. In light of the other notable nations involved in Turkish textile and raw material exports during this specific timeframe, it is seen that there was an 8.7% rise in shipments to Bulgaria and Egypt.
Despite seeing a decline of 9.6% in comparison to August 2022, the woven cloth product category managed to retain its leading position. During the January–August period, technical textiles, which constitute the second largest product category in terms of exports, had a decline of 5.7%, resulting in exports totaling nearly 1.5 billion dollars. The yarn product category, which held the third position in terms of exports, had a decline of 21.7% in comparison to the same time in the preceding year.
