Turkey's machinery exports reached $11.9 billion in the first nine months of 2020, down 8.7%, an exporters group said Wednesday (October 14).
The machinery sector increased its performance by 5.7% with $1.6 billion in September, according to a statement by the Machinery Exporters' Association (MAIB).
"In the second quarter, when the machinery industry contracted 18.5% in developed countries and 39.2% in developing countries excluding China, the figure was only 12% for Turkey," said Kutlu Karavelioglu, the president of the MAIB.
In the first nine months of this year, the sector experienced an export loss of over 20% in North America and East Asia.
"We managed to keep the decrease in our exports to EU countries below these levels," he noted.
This has reduced the negative effects of the pandemic since the bloc makes the largest contribution to Turkey's machinery exports with a share of 52.1%.
"But the prospect of the EU's reclosure due to virus also appears to be the biggest risk for the machinery industry in the near future," he warned.
Turkey started to compensate for its losses in sales to top machinery export destinations -- Germany, the US, UK and Italy -- from January to September.
Exports to Russia, in particular, during this period rose 17%, according to the group.
Meanwhile, the Turkish industry and technology minister said Wednesday that Turkey will establish a new executive industrialization committee to make the country an essential player of global competition by expanding its capacity.
"We have taken a historic step to strengthen the Turkish industry and technology ecosystem, and the most critical structural reform of the recent period has been made," Mustafa Varank stressed on Wednesday in an event in the capital Ankara.
In this committee, the decisions, which will improve the industry, will be taken together with the relevant ministries, he underlined.
The committee will ease the control of public procurements in line with the indigenous production priorities, the minister also noted.
The country's industry sector exports reached $88.9 billion in the first nine months this year, according to official figures.
Based on AA