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Image: IMSAD
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The September 2024 results of the Construction Materials Industry Foreign Trade Index prepared by Türkiye İMSAD were announced. According to the report, exports increased by 85 million dollars compared to the previous August and reached 2.62 billion dollars. It remained 0.7 percent below September last year. Construction material imports amounted to 941 million dollars in September.
Turkey IMSAD Construction Materials Industry Foreign Trade Index results for September 2024 were announced. According to the report, with the normalization of the number of working days, construction material industry exports showed a significant increase in July and continued to rise in August. Despite the stagnation in the market and the appreciation of the Turkish lira, exports continued to increase in September. Thus, foreign trade indices recorded a three-month rise.
In the report, it was stated that the export performance of construction materials in September exceeded that of August 2024 in terms of value and quantity, while there was a limited decline compared to September last year. According to Turkey IMSAD data, exports rose to 2.62 billion dollars in September 2024. Thus, it exceeded the previous August by 85 million dollars. In terms of value, exports in September this year were 0.7 percent below the exports in September last year.
Exports increased by 222 thousand tons
According to the Turkey IMSAD report, which is closely watched by economic circles, exports of construction materials increased by 222 thousand tons in September 2024 compared to the previous August, reaching 4.14 million tons. This result was 1.2 percent below last year's September export performance.
In September 2024, the average export unit price was recorded as 0.63 dollars/kg. It was stated in the index that the average annual export unit price of the construction materials industry in September this year increased by 0.5 percent compared to September last year. Average export unit prices fell slightly compared to last August.
In September 2024, imports of construction materials amounted to 941 million dollars. Thus, imports increased by 6.8 percent compared to September last year. In addition, imports remained below 1.0 billion dollars in September after August.
In September 2024, imports of construction materials amounted to 316,577 tons in quantity. The report stated that monthly imports decreased in quantity. The average annual import unit price of construction materials industry increased in September 2024 compared to the previous month and rose to 2.97 dollars/kg.
Annual exports amounted to 28.78 billion dollars
Based on the export performance in September, annualized exports of construction materials amounted to 28.78 billion dollars as of September 2024. With this result, annualized exports remained 2.7 percent below last year's annual exports at the end of September. In September 2024, annualized exports decreased by 1.9 percent in quantity and amounted to 45.64 million tons.
The annualized average export unit price was 0.63 dollars/kg. The report also revealed that exports have been on the rise for the last three months, but the increase remained limited due to the stagnation in markets and the appreciation of the Turkish lira.
Average export unit prices fell in half of sub-product groups
According to the report, the recession in export markets affected the sub-sectors of the construction materials industry in different ways. The export performance of sub-sectors showed different trends in terms of quantity and value compared to September last year.
According to the index data, average export unit prices remained lower in four of the eight subgroups in September 2024 compared to September 2023. On the other hand, an increase was recorded in four sub-product groups. Accordingly, the average export unit price of mineral, stone and earth products decreased by 0.5 percent in September 2024 compared to the same month of the previous year. The average export unit prices of iron and steel products fell by 1.6 percent, while the average export unit prices of metal-based products fell by 1.8 percent. The average export unit price of chemical-based products decreased by 4.2 percent, while the average export unit price of electrical materials and equipment increased by 7.3 percent.
It was also reflected in the index data that exports in six of the eight sub-product groups were realized below September last year in terms of quantity. In September 2024, exports decreased by 1.7 percent in iron and steel products, 2.7 percent in electrical materials and equipment, and 1.4 percent in mineral, stone and soil products. Exports of chemical-based products increased by 8.8 percent in quantity.
In the data shared in the report, it was seen that exports in five of the eight sub-product groups in September 2024 were realized below the value of September last year. It was also emphasized that quantity and unit price declines were determinant in this decline. In this context, exports decreased by 3.2 percent in iron and steel products, 1.8 percent in metal-based products, and 1.9 percent in mineral, stone and soil products. Exports increased by 4.4 percent in electrical materials and equipment and 4.1 percent in chemical-based products.
