Construction materials exports may reach record high this year

ANKARA

The construction materials producing sector may see its exports hit a record level this year, a business group has said.

The industry’s sales to foreign markets climbed to $3.36 billion in June, the highest monthly figure ever on record, while the 12-month trailing exports reached $34.52 billion, according to the Association of Construction Material Producers (İMSAD).

The average unit price of exported materials grew by 25 percent and exports, in terms of volume, amounted to 5.31 million tons.

Türkiye’s imports of construction materials also continued the upward trend, increasing by 27 percent year-on-year to stand at $957 million June.

The impacts of the ongoing war between Russia and Ukraine, global inflation and recession fears will set the course for the exports in the second half of 2022, the İMSAD said in a statement.

“Despite the expectations that export unit prices will fall in the coming months, this year’s export revenues will probably exceed the 2021 level,” the association predicted.

The industry’s export revenues increased by 46.2 percent last year to amount to $30.88 billion.

Demand for Turkish products have been on the rise and the high unit prices give a boost to export revenues, the association added.