Turkey’s plastics sector grows 1.4% in H1
Production in the plastics sector reached 4.3 million tons, up 1.4% from a year earlier. However, the value of this production declined 10.5% to around $16.4 billion due to lower crude oil prices and fluctuations in the euro/dollar parity. In the list of main export products, packaging products ranked first with 1.7 million followed by plastic construction materials at 945,000 tons.
In the first half of this year, exports for plastic raw materials and goods reached 1.1 million tons, worth around $2.6 billion, while plastics exports accounted for around 32% of Turkey’s total chemicals exports in the same period. However, exports of plastics goods declined both in amount and value in the first six months. The volume of plastics exports declined 2.4% to 779,000 tons while the value of plastics exports slumped 13% to $2.17 billion.
The highest increase was seen in exports for plastic lids. The main export destinations were Iraq, Germany and the UK. Exports of plastics raw materials fell 1% to 341 million tons, worth around $471 million, down 20% from a year earlier. Germany, Egypt and Russia formed the top export destinations.
The data also showed that Turkey’s plastics sector utilized 72% of its capacity in the January- June period while domestic consumption rose 2.6% to reach $3.8 billion.
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