Chemical Sector Exports Exceed $7 Billion in Five Months

According to data from the Istanbul Chemicals and Chemical Products Exporters Association (İKMİB), chemical sector exports in May 2020 declined 39.10 percent compared to the same period last year, reaching USD 1 billion 180 million. In the first five months of 2020, total chemical sector exports reached USD 7 billion 233 million. İKMİB Board Chairman Adil Pelister commented on these figures. Noting that the chemical sector achieved USD 1 billion 180 million in exports with a 39.10 percent decline compared to May of the previous year, Pelister stated: "However, when we look at other sectors such as automotive and ready-to-wear clothing, we see that our chemical sector has actually been less affected by the pandemic. Despite all the challenges, we are maintaining our second-place position. Taking into account Turkey's overall 40.9 percent export decline in May, we can say we have achieved above-average success. Our chemical sector's five-month exports declined 17.28 percent compared to the same period last year, reaching USD 7 billion 233 million.

We believe that as both our country and global trade, particularly with EU countries where we export the most, transition to the new normal, we will begin to recover again as of June," he said.

On the other hand, Pelister noted that digital transformation has also accelerated during this period: "The reality of 'Digitalism' that we first raised in 2018 and our forecast that digitalization would be a reality shaping the 21st century have shown that digital technologies will be at the center of post-corona global socio-economic changes and developments. Our industry and exporters need to be among those shaping the new era, not just adapting to it. We believe that writing a new story in exports can be achieved through the digital economy. For this, we must quickly create a 'Digital Export Platform' and integrate all export processes including logistics and payments into the digital sphere," he said. Emphasizing that İKMİB is moving with this vision and has implemented Turkey's first virtual trade delegation in digital exports, Pelister stated: "We organized our Colombia Virtual Trade Delegation on 11-22 May. Our event, which included a total of 123 bilateral business meetings, was very productive. We will continue with this type of digital events in the coming period," providing information about their activities.

Netherlands leads in exports

According to Istanbul Chemicals and Chemical Products Exporters Association (İKMİB) data, the country with the highest exports in May 2020 was the Netherlands with USD 74 million 383 thousand. "Mineral fuels, mineral oils and products," "plastics and articles thereof," "miscellaneous chemical products," "inorganic chemicals," "essential oils, cosmetics and soaps," "organic chemicals" and "rubber and rubber articles" were the products most exported to the Netherlands in May. The top ten countries following the Netherlands are: Iraq, Germany, United States, United Kingdom, Azerbaijan-Nakhchivan, France, Spain, Israel and Italy. Looking at the five-month period of January-May 2020, the countries to which chemical exports are made are, in order: the Netherlands, Germany, Italy, Iraq, United States, Spain, United Kingdom, Egypt, Belgium and Israel.

Plastics and articles thereof lead exports

In May, plastics and articles thereof took first place in chemical exports with USD 410 million 870 thousand 559. Mineral fuels, mineral oils and products came in second with USD 165 million 181 thousand 979 in exports, while miscellaneous chemical products ranked third with USD 113 million 564 thousand 182. Other sectors in the top ten for May 2020 chemical sector exports are 'inorganic chemicals,' 'pharmaceutical products,' 'essential oils, cosmetics and soaps,' 'rubber and rubber articles,' 'paints, varnishes, inks and preparations,' 'washing preparations' and 'organic chemicals.'