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China's import of Turkish steel surges despite pandemic

Business Materials 23 July 2020 17:43
China's import of Turkish steel surges despite pandemic

BAKU, Azerbaijan, July 23

By Rufiz Hafizoglu – Trend:

Steel export from Turkey to China surged by 68.2 percent in the first half of 2020, compared to the same period of 2019, having surpassed $7.4 million, Turkey’s Trade Ministry told Trend.

In June 2020, Turkey’s steel export to China massively increased by 42.15 percent compared to the same month of last year, exceeding $1.3 million.

In 1H2020, export of Turkish steel to world markets dropped by 16.6 percent compared to 1H2019, amounting to $5.9 billion.

Turkey’s steel export accounted for 8 percent of the country's total exports during this period.

In June 2020, Turkey exported the steel to foreign markets in the amount of over $1.1 billion, which is 28.6 percent more compared to the same month of 2019. In this month, Turkey’s steel export accounted for 8.4 percent of the country's total exports.

Over the past 12 months (from June 2019 through June 2020), Turkey exported $12.6 billion worth of steel abroad.

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