İMSAD: Lowest exports of the year in construction materials

According to IMSAD data, annual exports of construction materials amounted to 34.3 billion dollars due to the weakening of foreign markets. The effect of the slowdown in markets was clearly felt in the decreases in exports in terms of quantity and value. Exports decreased by 21.9 percent compared to October of last year, falling to 4.18 million tons, and this was the lowest export of the year. The October results of the Foreign Trade Index prepared by the Turkish Construction Material Industrialists Association (Turkey IMSAD) were announced. Accordingly, it decreased in October after September. Monthly and annual export volumes showed a downward trend in the past two months. The effect of the weakening that began in foreign markets on exports became evident in October. Accordingly, the foreign trade performance of the construction materials industry was recorded as the second lowest monthly export of this year in terms of value, at 2.49 billion dollars in October. Exports decreased by 10.6 percent in value compared to October of last year. Exports decreased by 21.9 percent compared to October of last year and fell to 4.18 million tons, the lowest export of this year. The average annual export unit price of the construction materials industry increased by 13.5 percent in October compared to the same month of the previous year. While the average export prices were 0.52 dollars/kg in October 2021, they increased to 0.59 dollars/kg in October 2022. It is observed that the average export unit price has also entered a downward trend. Annual exports returned from 35 billion dollars. Annual exports (last 12 months), which were very close to 35 billion dollars in August, changed direction and entered a downward trend. Annual exports of construction materials were 34.3 billion dollars in October. Exports decreased to 59.97 million tons annually in terms of quantity. The average annual export unit price is at 0.57 dollars/kg. The effect of the slowdown in the markets was clearly felt in the decreases in exports in terms of quantity and value. The unit prices, which were higher compared to last year, continued to support the size of exports in terms of value. However, unit prices have also started to decline. Despite the decline, imports are at a high level. Although construction material imports decreased to 867 million dollars in October, they were 35 percent higher than last year's October. Imports remain high in value. Construction material imports decreased significantly in quantity, falling to 274 thousand 162 tons. The import unit price increased compared to previous months and became 3.16 dollars/kg. A weakening trend is also prominent in sub-sectors. In October 2022, there were increases in value in only three sub-sectors in the construction material export performance, which gradually slowed down and declined. However, these increases were mostly due to unit price increases. There were decreases in quantity. During this period, export unit prices were higher in seven of the eight sub-product groups compared to October 2021. Although global commodity and final product prices have entered a downward trend, they are still above last year's prices. In October 2022, there was a decrease in the average export unit prices of prefabricated structures compared to October 2021. The average export unit price of mineral products is 26 percent higher than the same month last year, and the average export unit price of iron and steel products is 10.4 percent higher than the same month last year. The average export unit price of metal-based products increased by 7.3 percent, and the average export unit price of wood and wooden products increased by 8.9 percent. The increase in the average export unit price of chemical-based products was 7.5 percent.