Turkish packaging sector records trade surplus in 2014
In a press release dated April 7, Petkim’s CEO and the head of the ADS, Sadettin Korkut, reported that consumption in the Turkish packaging market has increased in line with higher middle-income population and the spread of urban life, which has helped to decrease the country’s current account deficit. On global scale, the packaging industry reportedly grew by 3% on the year and is expected to reach around $820 billion in volume by 2016.
Annual packaging consumption per capita is reportedly around $240 in Turkey, close to the European average of around $250-300. Korkut also said that in 2014, Turkey’s packaging imports amounted to around $3.6 billion accounting for 1.9 million tons of packaging material. The main import sources were Germany, China, the US, Italy and South Korea.
Meanwhile, Korkut stated that by 2023, the Turkish packaging sector aims to expand the market size to $30 billion with a consumption of $300 per capita and increase exports to $10 billion from $4 billion.
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