Turkiye's apparel exports slip 5.10% to $15.5 bn YoY in Jan-Oct 2023

Turkiye's apparel exports experienced a 5.10 per cent year-on-year decline in the period from January to October 2023, according to data from the Turkish Statistical Institute and the country's ministry of trade. During this period, exports totalled $15.533 billion, a decrease from $16.369 billion in the corresponding period of 2022. In October 2023 alone, exports saw a more significant drop, falling 10.19 per cent to $1.432 billion. 

Exports of knitted and crocheted clothing and accessories (HS Chapter 61) reached $8.660 billion in the first ten months of 2023, marking a 6.3 per cent decrease from $9.246 billion in the same period last year. Meanwhile, non-knitted apparel and accessories (HS Chapter 62) amounted to $6.873 billion, representing a 3.5 per cent drop compared to $7.123 billion in January to October 2022. 

In October 2023, the most recent month for which data is available, Turkiye's total exports of both knitted and non-knitted clothing and accessories decreased by 10.19 per cent to $1.432 billion, compared with $1.595 billion in October 2022. Exports of knitted and crocheted clothing and accessories fell by 9.1 per cent, totalling $838.129 million, against $921.975 million in October 2022. Shipments of non-knitted apparel and accessories also declined, dropping by 11.7 per cent from $673.256 million in October 2022 to $594.405 million in October 2023. 

For context, Turkiye's apparel exports had increased by 6.46 per cent in 2022, reaching $19.475 billion compared to $18.294 billion in 2021. 

ALCHEMPro News Desk (KUL)