Turkey’s mining industry sets sights on $5B export goal
Turkey's mining industry aims to reach $5 billion in exports this year via digital marketing and other technical tools, according to Aydın Dinçer, head of the Istanbul Mineral Exporters' Association (İMİB), Daily Sabah reports.
The Turkish mining industry, with its strong, technologically based infrastructure, has the capacity to respond quickly on the production side to rising demand when the coronavirus pandemic is under control, Dinçer told Anadolu Agency (AA) Wednesday.
"We had a good start to 2020 with Turkey's 5% growth target, a promising new mining law, and some progress in the world economy, so our exports in January rose 8.6% compared to the same period of the previous year, hitting $330 million," he added.
The industry’s exports amounted to some $282.65 million, bringing the exports in the first two months up to nearly $612.53 million, according to the association, compared to around $598.1 in the same period of 2019.
Dinçer said the mining industry felt the impact of the coronavirus in February along with Chinese markets' flirting with a shrinkage, as China is the Turkish mining industry's biggest market, with a 31% export share.
"Our exports to China reached $1.34 billion in 2019, including $695 million in natural stones. The fall in natural stone exports to China in March was 68.29% compared to the same period of the previous year," he explained.
Dinçer said they have been working closely with Turkish ministries and institutions right from the start to cushion the impact of the drop in exports.
"The government announced in the March 25 Official Gazette that it prolonged the time for support payments for employers in the mining sector, and this is important for calculating costs for 2021," he said.
"We appreciate contributions keeping the sector afloat because the mining industry supports the country's economy with $4.3 billion in exports and makes a huge contribution to the domestic market by providing raw materials," he added.