Machinery exports reach $7.6 billion in first half of year

23 July 20202 min reading
[caption id="attachment_3682" align="aligncenter" width="659"] Kutlu KARAVELİOĞLU[/caption]

Turkish Machinery Exporters' Association (MAIB) announced that $7.6 billion worth of machinery was exported in the first half of the year. Machinery exports decreased by 13.6 percent compared to the same period of the previous year due to the pandemic.

In the second quarter, when global trade has come to a halt, the exports of the Turkish machinery sector, which shrank by 27 percent compared to the second quarter of the previous year, completed the first half of the year with an export of 7.6 billion dollars, decreasing by 13.6 percent compared to the same period of the previous year. Drawing the attention to the fact that United Nations Trade and Development Conference predicts a 20-percent shrinkage in the first quarter and 27 percent in the second quarter for the global machinery trade and that the machinery exports of Turkey, which has increased by 0.4% in the first quarter, is obliged to the global course of events, MAİB President Kutlu Karavelioğlu said the following: “If the OECD's prediction that the global economy will contract by 6 percent at the end of the year comes true, the global machinery sector may close the year with a contraction of 20 percent, so we can return to the pre-crisis figures only after 2 years.” Drawing attention to the fact that EU countries have to make an economic breakthrough under the leadership of Germany if they want to continue economic competition with the USA and China, MAİB President Kutlu Karavelioğlu said, “Regarding Germany's temporary presidency of the EU as an opportunity and maintaining sectoral diplomacy, we will accomplish positive results."

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