The Istanbul Textile and Raw Materials Exporters Association (İTHİB) expects textile revenues for US-bound exports to go above US$1bn by the end of this year. IHKIB also suggests the sustainability agenda values the long-life of Turkish textile and apparel products, as well as their quality and other competitive features, and believes Türkiye has the potential to change the perceptions of buyers, brands, and US consumers on fast fashion and apparel business partnerships.
The Turkish textile industry, the world’s 5th largest textile exporter, reached the highest record of all time with an export value of 12.9 billion dollars, with an increase of 33.2% in 2021. The industry has experienced an increase in exports in approximately 85% of the more than 200 countries and regions it exported. It reached the highest monthly export figure of all time in December, increasing 18.2% compared to the same period of the previous year, with an export figure of 1.2 billion dollars. The figures increased by 2.1% compared to November 2021 and had a share of 5.4% in Turkey’s overall exports.
The Turkish manufacturing industry’s capacity utilization rate (CUR) increased in July, according to the Central Bank of the Republic of Turkey (CBRT), whose recent survey showed manufacturing units are operating at 78.2% of their capacity this month—up by 0.6% points from June. The highest capacity usage of 84.7% was in the textile manufacturing sector, which suggests that the Turkish textile sector is performing exceptionally well.
