Increase in the Market Share of Textile Industry in US

Under the organization of İTHİB, 2nd Turkish Industrial Export Products Fair took place in New York; ‘’I of the World’’ opened its doors between the dates of 28 and 29 September.

  10 November 2021 08:50 Wednesday
Increase in the Market Share of Textile Industry in US

İTHİB President Ahmet Öksüz, ‘’With the success of this fair, we aim to pull up our market share with the establishment of effective trade links by bringing our manufacturers together with US partners as it considered one of the most strategic export market for Turkish textiles.’’ In the US as it has been one of the most strategic export markets for the Turkish textile industry, ‘’2nd I of the World Fair’’ Organized by Istanbul Textile and Raw Materials Exporters' Association (İTHİB) taking place in New York in September 28 and 29. The fair marketed itself as the single spot that bringing together leading apparel manufacturers, designers and textile distributors of the US. During the fair, 28 Turkish textile companies exhibited which targets US market as their future opportunity and intend to grow their market share.

Textile Sector Set to 1 Billion Dollar

While making evaluations on the fair, Ahmet Öksüz, President of Istanbul Textile and Raw Materials Exporters' Association (İTHİB), shared the following, ‘’Regarded as the 5th major textile exporter globally and 2nd textile exporter in EU, our Turkish textile industry turned its eyes to the one of the most important target markets of the world nations and the biggest textile importer with its 43 billion dollar worth of import power; US. We have 3 per cent share in world exports and 1.6 per cent shares in US imports as Turkish textile industry. ‘’I of the World New York’’ fair was very productive for our industry which we organized successfully with the support of the Ministry of Commerce and the Turkish Exporters Assembly as İTHİB in the beginning of 2020 with its first edition. With the support of fair and promotional activities, despite of the global pandemic, despite challenging pandemic, our exports to US with an 8 per cent increase rise to 628 million dollar and it has been recorded as the highest export figures in history. When we point out the first eight months of the year, textile industry exports have risen by 51 per cent and reached 547 million dollar levels. In US market, we are aiming to exceed export figures associate with previous year between Jan-Sep. We should take more proactive steps in this market and if necessary conduct projects for each county separately. In consistent with the works directed at US as of our main target market, we expect our exports to reach 1 billion dollar in 2021.

In this context, we realize our export strategy efforts to far geographical areas as underlined by the President Recep Tayyip Erdoğan and our Minister of Trade Mehmet Muş very significant.’’

Rise in US Imports from Turkey

Revealing data on the textile sector import figures of US, İTHİB President Ahmet Öksüz said the following, ‘’In relation to the data revealed by the Official Statistics Bureau of the US, the textile sector imports fall behind by 18 per cent and recorded as 20 billion dollars. Both US imports from China and China imports from US fallen drastically as the former indicates 46.5 per cent and the latter from 61 per cent to 39.8 per cent. However, Turkey was still able to access 2.7 per cent of from US exports as its main share with a rise. In order to maintain our growth rate; ‘’I of the World New York’’ fair, as single industrial export products fair, has great importance to us organized amongst the Exporters' Associations. Indeed, we have many targeted promotional activities and B2B organizations that we will achieve in US.’’

Dedicated Spot Turkish Textile Industry Targets Top 3

While giving information on the Turkish textile sector, Ahmet Öksüz said, ‘‘We set ourselves to pass unbroken records in the history of our republic by the end of the year with the exports amounting to 12 billion dollar. We are the biggest exporters with ready-to-wear industry nationwide. As our employment are on the steady rise and still reach 1.1 million even in the challenging pandemic. Our industry has proven once again that it is the single dedicated spot along the supply chain which maintain its leading position in a number of economic variables such as from integrated production power to qualified personnel, from investments we have achieved in the field of sustainability to R&D works, from flexible production capability to logistics advantages. Especially in 2021, our companies are strengthening their position in the supply chain by integrating new investments rapidly. In this context, we are coming closer to achieve our goal to become one of the world’s top 3 textile exporter’s in the mid-term.’’

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