In the first month of the new year, Turkey's exports increased in total, while the iron and steel sector accounted for 10.3 percent of exports. While the global decline in ferrous and non-ferrous metals also had an effect in January, there was an increase of 2.1 percent in the steel sector as a result of the increasing demand. The positive start of the year to the sector, which declined in the 12 months of last year, made the sector smile. Both sectors predict that the postponed demands will come especially in the second half of the year and that exports will increase further in this period.

In January, exports increased by 3.6 percent to more than $20 billion. In this month, Turkey's exports of ferrous and non-ferrous metals decreased by 10.5 percent to 940 million dollars, while steel exports increased by 2.1 percent to 1.1 billion dollars. The increase in the steel sector, which declined in the 12 months of last year, after a 1-year decline period, also increased the hopes of the sector for 2024.

Ferrous and non-ferrous metals exports had a share of 4.7 percent in Turkey's total exports, while the share of steel exports was 5.6 percent.

In January, the ferrous and non-ferrous metals exports of the Mediterranean Ferrous and Non-Ferrous Metals Exporters' Association (ADMIB) decreased by 8.5 percent to 63 million dollars, while steel exports reached 121 million dollars with a record increase of 32.3 percent.

Double-digit export increases to European countries

In January, the first country in Turkey's iron and steel exports was Germany with 178 million dollars. This country was followed by Italy with 113 million dollars and Romania with 105 million dollars. Among the top 10 markets, the most striking increases were seen in exports to Spain with 42 percent, Romania with 32 percent and the United Kingdom with 28 percent.

In ADMIB's exports, it was seen that Algeria ranked first with an export of 16.9 million dollars. This country was followed by Iraq with 16.3 million dollars and Germany with 12.3 million dollars. Among the top 10 markets, increases of 465 percent were recorded in Greece, 260 percent in Algeria, 90 percent in Romania and 79 percent in the United Kingdom.