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Turkish textile industry challenges: Interest rates & export decline

Insights

• The rising interest rates in Turkiye, which spiked from *5* per cent in 2023 to *0* per cent by November 2024, have been adversely affecting the country's textile industry, a key player in its export economy.
• The sector now faces reduced demand from major markets. Turkiye's apparel exports decline, and economic challenges spurred the necessity for strategic adjustments and sustainable practices.