STEEL PRODUCTION IN TÜRKİYE
In May 2024, Türkiye’s crude steel production increased by 11.6% yoy to 3.2 million tons.
In the first 5 months of the year, production increased by 19.8% to 15.5 million tons.
STEEL CONSUMPTION
Final product consumption decreased by 16.2% to 3.4 million tons in May and reached 16.1 million tons in January-May period, down by 2.1% compared to the same period of 2023.
FOREIGN TRADE
Export
In May, exports of steel products increased by 45.9% to 1.1 million tons in quantity and by 24.8% to 850.9 million dollars in value.
In the January-May period, compared to the same period of 2023, exports increased by 48.6% to 5.4 million tons in quantity and 26.2% to $4.0 billion in value.
Imports
In May 2024, imports decreased by 29.1% to 1.5 million tons in quantity and by 29.8% to 1.3 billion dollars in value compared to the same month of 2023.
In January-May period, compared to the same period of 2023, imports decreased by 12.1% to 7.1 million tons in quantity and by 17.5% to 5.6 billion USD in value.
Foreign Trade Balance
The ratio of exports to imports, which was 46.5% in January-May 2023, rose to 71% in January-May 2024.
Source: Turkish Steel Producers Association
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