Turkey named the sixth largest textile and ready wear exporter worldwide
Turkey was named the sixth largest textile and ready wear exporter of the world by making around 4 percent of such exports globally in 2014, according to a note released by the Turkish Statistics Institute (TurkStat)
China topped the list with 41 %, followed by India with 5.4 %, Italy with 5.3 % and Germany with 5 %.
The share of the sector in Turkey’s total exports was 18.7 % in 2014 in value with around USD 29.5 billion, according to the note. This rate was around 40 % in 1995, but decreased to 26 % in 2005 and 19.3 percent in 2010, said the note. Today, the leading exporting sector of Turkey is the automotive sector.
The 2014 exports of Turkey increased some 4 % last year, reaching a record of USD 157.6 billion, according to figures released by the Turkish Exporters’ Assembly (TİM). Car sales have been a major driving force, netting USD 22.3 billion, along with textiles and chemicals.
There has also been a decrease in the share of textiles trade in the world. While the share of the sector was 7 % in global trade in 1995, this rate dropped to 4.6 % in 2014.
The report also said Turkey was one of the three countries which gave a trade surplus in the sector. China’s textiles sector’s trade surplus was USD 264.6 billion in 2014, followed by India with around USD 33.7 billion and Turkey with around USD 16 billion. These countries were followed by the United States, Japan, Britain and Germany.