Turkish building materials market manages to cope with the consequences of coronavirus

Turkish building materials market manages to cope with the consequences of coronavirus

The Turkish building materials market, the sector most affected by the pandemic, is recovering from the coronavirus pandemic. The Association of Turkish Building Materials Manufacturers (IMSAD) released industry data for July, showing that the impact of the pandemic continues to wane. The building materials market, which rebounded slightly in June 2020, also continued to grow in July (by another 2.6 percent), offsetting losses in April and May. Domestic sales and production are growing, export markets, which are so important for Turkey, are recovering. Turkey ranks 11th in the world in the export of building and finishing materials. The main countries-buyers of Turkish products are Israel, Iraq and Great Britain. Last year, Turkey's profit from the export of building materials amounted to $14.69 billion.

In April (due to the coronavirus outbreak), 85.5% of Turkish building materials manufacturers faced massive cancellations of orders. Also supplies were canceled by both foreign buyers and Turkish companies. For this reason, the Turkish production of finishing and building materials temporarily stopped, many people lost their jobs.

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