The contraction in European economies also caused damage to the exports of Turkey, one of the main suppliers of the region. The cost of the contraction in the EU, Turkey’s largest export market, to the textile and ready-made clothing industry exceeded 2 billion dollars.
While both general exports and exports to the EU followed a parallel course with last year throughout this year, the textile sector closed the year with a 10 percent contraction and the ready-made clothing with a 9.2 percent contraction. The decline was much deeper in the main market, the EU. While the textile industry’s loss in the region approached 20 percent, the loss rate in clothing approached 10 percent.
The export loss of both sectors in the region amounted to 2.2 billion dollars. According to the data announced by the Turkish Exporters Assembly, exports, which increased by 0.6 percent to 255.8 billion dollars in 2023, decreased by 9.6 percent in quantity and decreased to 150 million tons.
Exports to the EU remained at 93 billion dollars in this period, as in 2022. Textile sector exports shrank by 10 percent and fell to 11.6 billion dollars. In the sector, which increased its exports by 1.8 percent in quantity to 2.3 millon tons, the value per kg decreased from 4.5 dollars to 4.1 dollars.
