Aegean Exports Slow Down in March

Aegean Exporters' Association Coordinator President Jak Eskinazi stated that they had previously shared their predictions that losing competitiveness due to cost increases would cause a decline in exports and said, "Cumulatively, maintaining our export performance of last year in the first quarter of the year is a positive development. Our goal for 2024 was in this direction. However, the 6,7 percent decline we experienced on a monthly basis may be a sign that the bad scenario is starting to come true,” he said.

Eskinazi said, “We have left the local election process behind and the fact that there will be no other elections in the next four years is a great opportunity to get the economy back on track. As our Minister of Treasury and Finance, Mr. Mehmet Şimşek, underlined after the election, the next aim should be to continue to implement the Medium Term Program with determination. "The cost increase we experience due to inflation causes our sales prices to remain high compared to our competitors in foreign currency, and we are losing the markets in which we have worked hard for years." he said.

EXPORTS OF INDUSTRIAL PRODUCTS DECREASED BY 10 PERCENT, EXPORTS OF AGRICULTURAL PRODUCTS DECREASED BY 6 PERCENT

While the exports of industrial products of the members of the Aegean Exporters' Association decreased by 10 percent from 949 million dollars to 855 million dollars in March, the agricultural sectors, which have always recorded a positive increase in exports in the past months, also experienced a 6 percent decline in exports in March. EİB's agricultural product exports decreased from 683 million dollars to 642 million dollars. Aegean miners, who entered 2024 like a storm, increased their exports from 19 million dollars to 96 million dollars in March, with an increase of 114 percent.

While 12 of the 4 exporters' associations under the umbrella of the Aegean Exporters' Associations increased their exports in March, 8 exporters' associations remained far from their March 2023 performance.

IRON AND STEEL INDUSTRY MAINTAINED ITS POSITION AT THE TOP

Even though the Aegean Iron and Non-Ferrous Metals Exporters' Association experienced a 2024 percent decrease in exports in March 9, it by far maintained its top place under the umbrella of EİB with exports of 236 million dollars. EDDMİB's annual exports were recorded as 2 billion 469 million dollars.

Aegean Tobacco Exporters' Association, which increased its exports from 19,4 million dollars to 68 million dollars with an increase of 81,6 percent in March, became the export increase record holder under the umbrella of EİB in March. The tobacco industry is one step closer to its 2024 billion dollar export target for the end of 1.