Export income of Turkish Natural Stone Sector got back to 3 years ago in the end of the problematic year of 2018.
Decreasing by 6.8% in 2017, the export income was recorded as $1,908 billion. This severe decrease in China, Turkey’s biggest market, is the main reason of the problem.
That’s how the life is… Your dreams, goals and expectations are on one side. And reality is on the other… The reality of what the sector went through in 2018. A growth by 13.4% achieved in 2017, the export income exceeding the barrage of $2 billion, setting a new target of $2.5 billion due to this momentum, and a nightmare-like year contrary to all expectations with the figures revealed as a result of all these. Decreasing by 6.8% compared to 2017, the income earned in exchange for a natural stone export of 7.461.683 tons was recorded as $1,908 billion.
18.1% lost in China
How should we evaluate these figures? Why did the sector’s income go back to 2015 despite the high expectations in the new year? At this point China is a factor that should be underlined. The crysis Turkey went through in China is undoubtedly the main reason of the decrease in 2018. Earning $945,660,862 from China in 2017, Turkish natural stone sector made $773,837,525 in 2018 with a decrease of $171 million. In other words, our income from China decreased by 18.1%.
Block market: the main problem
It’s quite expected that this decrease in China, the world’s biggest block buyer, have an impact on Turkey’s block sale. The amount of income earned by the sector decreased by 14.37% compared to 2017. Exporting a total of 5.043.347 tons of block marble and travertine in 2018, Turkey earned $947,179,244. A considerable decrease was noticed also in the Vietnamese market. The amount earned from the country decreased by 33.7% and was recorded as $5,942 million.
India brick by brick
A gradual increase in India, Turkey’s second biggest marble buyer after China, is stil going on. Turkish natural stone sector managed to increase the amount of income earned from India by 6.37% in 2018. In exchange for a natural stone export of 457.733 tons to India, one of the fastest growing economies of the world, the amount of income earned by Turkey was recorded as $90,236 million. It’s possible to assume that the income from India, which had been recorded as $46 million in 2013, is about to exceed the barrage of $100 million.
The USA borders on $300 million
What is the situation in the US? We can say that the USA, the biggest processed product importer of Turkey, holds the line. Increasing the export income by merely 1.75% compared to 2017, Turkish natural stone sector is reaching the barrage of $300 million. Turkey earned $299,47 million in exchange for an export of 661.676 tons of products to the world giant in 2018.
The Middle East is stable
Another important buyer of processed product after the USA is Saudi Arabia. But the figures are no different than the US. The amount of income Turkey earned from Saudi Arabia was recorded as $105,894,211, increasing by 1.28%. Another important increase in Asia was noticed in Israel. The exports to Israel increased by 12.2% and exceeded the $60 million barrage. The amount of export income from the United Arab Emirates increased by 2.61% despite the fact that the amount sold decreased by 7.8%.
The markets on the rise
Some developing markets should be noticed evaluating the figures of 2018. Increasing export income from Australia by 11.4%, Germany by 16.2%, Qatar by 10.2%, Morocco by 54.6%, Libya by 147% and Indonesia by 31.3%, Turkish natural stone sector will carry on its studies on market diversity and we shall see if they’ll pay off and be sufficient to increase Turkey’s natural stone income again in 2019.