Turkey’s Daily Sabah reported that Mustafa Gultepe, president of the Istanbul Garment Exporters Association (IHKIB), said that as the European market is expected to import more from Turkey, Turkish ready-made garments The industry expects exports to exceed US$20 billion in 2021, and sales are expected to grow by 15% in 2022.
Gultepe pointed out that due to supply chain problems, increased freight and logistics costs, European brands are turning their attention to Turkey; Turkey has received a large number of orders, and the garment industry is expected to break through this year Exports have reached a record of more than 20 billion U.S. dollars, and sales are expected to grow 15% to 23 billion U.S. dollars next year.
The disruption caused by the epidemic to the global economy, including cross-continental supply chains, has prompted many global fashion retailers to consider leaving Asia’s low-cost manufacturing hubs, and some have announced that they will relocate Produced in Turkey. Spanning Europe and the Middle East, Turkey says it could benefit from changes in global supply chains, with its strategic location and strong manufacturing base seen as advantages.
Gultepe said that Turkey and its garment industry are facing major opportunities due to supply chain disruptions and the preference of global brands to purchase from neighboring regions. Benefiting from this, the garment industry will open in July Exports have grown significantly for the first time this year. Exports in the first 11 months of this year reached US$18.4 billion. Exports this year are expected to exceed US$20 billion, breaking the US$18.7 billion export record set in 2014. The garment industry will reduce Turkey’s current account deficit. Contributed US$18 billion.
If issues such as raw material acquisition and new investment financing are resolved, Gultepe believes that there will be no obstacles to external sales reaching US$23 billion next year. In the medium term, Turkey will strive to achieve With exports of US$33 billion, it ranks among the top in the world.
