October 9, 2023
STEEL PRODUCTION IN TÜRKİYE
In August 2023, Turkey’s crude steel production decreased by 2.9% yoy to 2.8 million tons.
In the January-August period, production decreased by 12.1% to 21.6 million tons.
STEEL CONSUMPTION
Final product consumption increased by 19.5% yoy to 2.8 million tons in August compared to the same month of 2022 and by 17.4% yoy to 26.1 million tons in January-August period.
FOREIGN TRADE
Export
In August, compared to the same month of 2022, exports of steel products decreased by 25.4% to 1 million tons in quantity and 33.4% to 775.8 million dollars in value.
In the January-August period, compared to the same period of 2022, exports decreased by 41.8% to 6.4 million tons in quantity and 49.1% to 5.3 billion dollars in value.
Imports
In August 2023, compared to the same month of 2022, imports of steel products increased by 17% to 1.3 million tons in quantity and decreased by 8.9% to 1.1 billion dollars in value.
In January-August period, compared to the same period of 2022, imports increased by 21.4% to 12.4 million tons in quantity and decreased by 5.2% to 10.6 billion USD in value.
Foreign Trade Balance
The ratio of exports to imports, which was 93.3% in the eight months of 2022, declined to 50% in the same period of 2023.
Source: Turkish Steel Producers Association
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