Turkish machinery exports hit $17B in year's first 9 months

ISTANBUL

Turkey's machinery exports totaled $17 billion in the first nine months of this year, according to figures released by a sectoral association on Tuesday.

The industry's exports rose 30.2% year-on-year in January-September, climbing 18.8% versus the same period in 2019 -- before the coronavirus pandemic struck -- the Machinery Exporters' Association said in a press release.

The sector is expected to close this year with an export figure of $23 billion, said the press release.

Noting that global trade had increased on a value basis due to inflation, Kutlu Karavelioglu, the head of the association, stressed: "We are on the brink of a world that will become more and more expensive."

Had the costs of limiting carbon emissions been shouldered on time without the problems accumulating, the world would not be under such an uncertain burden today, Karavelioglu said.

He added that the effort towards sustainability would increase costs at levels of the production chain, causing significant rises in product prices.

"We see it as an important advantage that Turkey has increased its renewable energy resources to over 50%," said Karavelioglu.

The Turkish machinery sector has no any reservations on complying with the EU's carbon emission goals but expects government support that its competitors will receive in other countries, he added.

ISTANBUL

Turkey's machinery exports totaled $17 billion in the first nine months of this year, according to figures released by a sectoral association on Tuesday.

The sector is expected to close this year with an export figure of $23 billion, said the press release.

Had the costs of limiting carbon emissions been shouldered on time without the problems accumulating, the world would not be under such an uncertain burden today, Karavelioglu said.

He added that the effort towards sustainability would increase costs at levels of the production chain, causing significant rises in product prices.

"We see it as an important advantage that Turkey has increased its renewable energy resources to over 50%," said Karavelioglu.

The Turkish machinery sector has no any reservations on complying with the EU's carbon emission goals but expects government support that its competitors will receive in other countries, he added.