Turkish Rug Exports to the US Rise 16.6%; Year-End Target Lowered
The Turkish rug sector exported 2.017 billion dollars worth of goods to 186 countries and free zones in nine months. Geopolitical and logistical problems led to a lower year-end target.
According to a report in Ekonomi Gazetesi, the Turkish rug sector sold 391 million 984 thousand square meters of rugs to 186 countries and free zones in the first nine months of the year. The foreign currency income from these shipments was 2 billion 17 million 127 thousand dollars.
Machine-made rugs and the US stood out
Machine-made rugs accounted for the bulk of exports: this item held the largest share of sector exports at 1 billion 563 million 158 thousand dollars. In regional distribution, the countries of the Americas were the region with the highest foreign sales, at 605 million 608 thousand dollars. As a single country, the US ranked first in Turkey's rug exports with a volume of 448 million 37 thousand dollars; sales to this market increased by 16.6%.
Target lowered, container costs soar
Despite the nine-month figures, the sector was forced to revise its year-end export target downward. The target had initially been set at 3.5 billion dollars; geopolitical and logistical problems were cited as the reason. Container shipping costs on the Middle East route also rose from 1,500 dollars to as much as 10 thousand dollars.
The article does not provide the new revised target figure.
This content was compiled with AI assistance from the cited source. (EU 2024/1689 Art. 50)
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