Turkish natural stone sector suffered a revenue loss of 7% between January and August in 2018.
Trade with China
2017 was a nice year for marble trading sector. The main factor in Turkey’s achievement of breaking the $2 billion barriers of export in the Year of the Rooster, was of course China. Increasing export to its biggest buyer by 29.6% and generating an income of $945.7 million from China.
Turkey had set another target for the Year of the Dog. The new target would be to reach $1 billion in export to China and reaching the peak of trade between the two countries. However, statistics of the first eight months of the Year of the Dog were disappointing.
Regression experienced in China,Turkey’s mostimportant market,played a major rolein this revenue loss.
Revenue of eight months is $522.8 million
Realizing an export of 661.994 tons of natural stone to China between January and August, Turkey earned $522,892,414. The revenue decreased by 16.2% compared to the same period last year. Turkey had exported natural stone worth $624.5 million in the first eight months of 2017. This decrease in China affected Turkey’soverall block export, as well. Losing revenue also in India, the second biggest block buyer after China, Turkey suffered a revenue loss of 13.2% compared to the first eight months of the last year.
Trade with Taiwan and Indonesia
Let’s pass to two countries making Turkey happy in the Far East market. These are Indonesia with an increase of 73.7% and Taiwan with an increase of 21.2% A decrease by 7% was noticed in Turkey’s overall export income. Exporting 4.907.185 tons of natural stone in the first eight months of 2018, Turkey’s revenue was recorded as $1.26 billion. President of Istanbul Mineral Exporters Association Aydin Dincer talked about the decrease in export and said, “The fact that stocks in China are filled and the slowdown in purchases have led to such a result.”