Spain and Bulgaria ease some of Turkey’s pain - leatherbiz: Leading ne Leatherbiz

News

Spain and Bulgaria ease some of Turkey’s pain

04/05/2016
It’s a long way from making up for losses in the Russian market, but the Turkish leather industry has reported substantial increases in its exports to a number of markets in the early part of this year.

The industry in Turkey brought in export revenues of $1.5 billion in 2015, with 21% coming from customers in Russia. This $300 million market has been decimated by political and military tension between Turkey and Russia.

From much smaller bases, Turkish tanners have reported year-on-year increases of 108% in their exports to Spain in the first three months of this year, reaching $11 million in value, and of 83% in their exports to Bulgaria, with a value of $11.5 million. Annualised, these figures would make these two markets worth 30% of exports to Russia last year, leaving Turkish tanners and finished product manufacturers still with a large gap to make up, but going some way towards easing the pain.

Exports to Romania, South Korea, Jordan and Kazakhstan also enjoyed high double-digit increases in the first quarter of this year, although again from a small base.


Related stories:

Jordan government urged to extend incentives to garments and leather 12/11/2019

Leatherbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.