Machinery exports reach $18.4 billion in the third quarter

02 November 20222 min reading

According to the machinery manufacturing industry’s consolidated data shared by the Machinery Exporters’ Association (MAİB), Türkiye’s total machinery exports, including free zones, reached 18.4 billion dollars at the end of 9 months of the year.

At the end of the third quarter, Türkiye’s machinery exports reached 18.4 billion dollars with a 7.4% increase compared to the same period of the previous year. While exports to Russia increased by 37.6, Germany, the USA, and Italy remained the top three export markets. Exports to Germany, reached 263 million dollars in September, and 2.2 billion dollars since the beginning of the year. During this period, European countries, where recession expectations increased, purchased machinery worth 10.5 billion dollars from Türkiye.

Evaluating the effects of the 5.5 percent increase in average export unit prices, Kutlu Karavelioğlu, President of the Machinery Exporters’ Association, said, “The global price increases will increase our total machinery exports this year by 1.2 billion dollars. However, our sector will be able to cover only half of the loss due to the parity throughout the year with the surplus income we have obtained through price increases. We can calculate that the depreciation of the Pound and the Euro against the Dollar amounted to 1.5 billion dollars in 9 months for the machinery sector.”

Kutlu Karavelioğlu pointed out that in 2022, the total export of goods in the world is expected to increase by 2 percent on amount and 6 percent on value basis compared to the previous year.

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