Export Our three year-loss in China is $405 million

Our three year-loss in China is $405 million

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Our three year-loss in China is $405 million

The last months of the year 2017 were great for the block market. Our export to China had almost reached $1 billion and the Turkish natural stone industry had earned $945,747,288 in exchange for 4.694.148 tons of block sale. We even had the title “Our new target is $1 billion” in the related article in Marble Trend’s Special Xiamen Issue for 2018. However, starting from 2018, a huge decrease started in the Chinese market that lasted until the end of 2020. Although we can say that our reascension started in 2021, we’d better analyze the situation by seeing the bigger picture.

The nightmare started in 2018

The recession in the Chinese market started in the first quarter of 2018. Some associated it with the full stocks in the country, and some made connections with the domestic investments. People were talking about different reasons but there was one clear fact: We had suffered a decrease of 18% in the Chinese market by the end of 2018. The total amount of product sold was 3.951.629 tons and our income was $773,83 million. This situation was one of the main concerns on our agenda at Xiamen 2019. Everybody wondered if things were going to be better in 2019.

The ambassador’s vision for 2019

We asked this question to Abdülkadir Emin Önen, Turkey’s ambassador in China, during our interview at Xiamen Fair in 2019. Ambassador Önen told us that there was a regression in the domestic market of China, and some decisions made in 2018 were applied and had consequences in the domestic construction sector. He also added, “2019 will be a hard year. I am expecting some activity in 2020…” Ambassador Önen was right. The Turkish natural stone industry was concluding 2019 with a loss of 10%. The total amount of stones sold decreased to 3.382.305 tons and the income was recorded as $694,82 million.

The nightmare in 2020: Covid-19

All the positive expectations about the year 2020 were blocked by something invisible that brought the world to its knees: Covid-19. It was quite obviously not possible for China, the zero point of the outbreak, and its domestic market to do better under harsh pandemic conditions. And so, by the end of 2020, the Turkish natural stone industry suffered another loss of 22%. In exchange for a sale of 2.656.213 tons of raw materials, the Turkish natural stone industry earned $540,017,446. After 2018 and 2019, the good expectations about 2020 were concluded by some grim facts.

A 42.9%-regression in four years

Let’s see the bigger picture. If we compare 2017, in which we had the $1 billion target, and 2020, in which we made do with what we had, we see a total decrease of 42.9% in Turkey’s total natural stone income from China. The decrease in the amount of product sold was 43.4%. In other words, compared with December 2017, our income loss in the Chinese market is $405,729,842. It’s true that the momentum is reascending as of 2021. And we shall see how much of our total loss this momentum will be able to compensate.

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