Turkey's rebar exports declined by 55% in 2023

 Turkey is a major manufacturing hub. Turkey is among the list of top construction materials importers in the world. However, the rebar exports from Turkey are falling year by year. According to the Turkey customs data reports, the country's total rebar exports were valued around 5.6 million tonnes. The total worth of Turkey's rebar exports were estimated around 4.3 billion dollars with a decline of 11%. The major markets for Turkey's rebar exports were mostly Israel, Yemen, Canada, and the United States.

As per Turkey export data, Israel was the leading market for Turkey's rebar exports in 2022. Around 1.1 million tonnes worth of rebar was exported by Turkey to Israel. It was 8.5% less as compared to the previous year. Second major Turkish rebar importer was Yemen during this period. It imported around 7,40K tonnes worth of rebar from Turkey followed by the USA (355K tonnes) and Canada (245K tonnes). Some of the top rebar importing countries from Turkey were Hammad Steel, Perek, Beyden Insaat Taahhut, Alfa Testing Equipment and Gunka Construction.

The latest Turkey trade data suggests that rebar exports declined by 55 during 2023. From January to May 2023, Turkey had exported over 748 million dollars worth of rebar during this period. Israel once again emerged as the leading rebar importer from Turkey in 2023. As compared to the same period during last year, there was around a 48% decrease in the rebar exports to Turkey.

Yemen was the second largest rebar importer from Turkey with over 207K MMT worth shipments in 2023. The United States was the third biggest rebar importer from Turkey with over 81K worth rebar shipments. There was around 54% and 84% decline in rebar exports of Turkey to the United States and Ethiopia.

Although there was 82% rise in rebar exports to Ethiopia, that is estimated around 73K mmt. The same pattern follows for Northern Cyprus and Panama that is 46% and 29% respectively.  Other most favoured Turkey export destinations were Senegal, Syria, Albania and Jamaica.

The major reason behind the decreasing rebar exports from Turkey is basically the high prices on rebar. That draws less attention from the global buyers. Whereas, the imports rise in rebar imports of Turkey from Egypt and Malaysia. On the other hand, Turkey's scrap metal imports are also declining. According to the Turkey import data reports, there was around a 16% decline in Turkey's imports of scrap metal. Around 25 MMT of scrap metal imported by Turkey in FY 2022. Turkey is ranked the leading scrap metal importer in the world.

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