Turkey's plastics exports are forecast to increase by 10 percent this year, according to Murat Akyüz, the president of the industry association Istanbul Mineral and Metals Exporters' Association (IMMIB). The president said that the recent decrease in oil prices is expected to greatly contribute to expanding the export sales of Turkey-based plastics processors, as reported by local business daily Dünya.
“In particular, we can expect our exports to increase once the current tensions ease in the Middle East and some of the neighboring countries. We are forecasting that the [Turkish] plastics sector will expand its exports by 10 percent in 2015,” Akyüz said.
Last year, plastics and chemicals represented as much as 30 percent of the country's exports, with an estimated value of $5.73 billion, according to data released by the Istanbul-based industry association.
The association's president said that, in spite of the current instability in a number of Middle Eastern markets, the region is a prime export destination for Turkey-based plastic producers, alongside European countries.
“Our foreign market No. 1 is Iraq,” Akyüz said. “Iran is also placed among the top 10 foreign markets.”
