TURKEY'S LEATHER EXPORTS EXPECTED TO NEAR $1.5 BILLION
- NewArticle
- Published:29 Ekim 2010, Cuma
- Updated:19 Ocak 2011, Çarşamba
Turkey's leather and leather product exports are expected by the end of 2010 to reach the highest level in the last three or four years.
![]()
Turkish Leather Manufacturers' Association (TDKD) Chairman Ramazan Hazar told the Anatolia news agency that they closed 2008 with $1.3 billion in exports and 2009 at $1.1 billion, while data from the first eight months of 2010 show that there has been a 19.4 percent increase in leather exports. "We reached $777.5 million in exports in August. We also expect a boost in leather exports in the remaining months of the year. We hope to close 2010 with $1.5 billion in exports, which will be the highest in the last three or four years," Hazar said.
Hazar mentioned the fact that the demand from European customers has increased by 20-30 percent due to European companies' dissatisfaction with leather products imported from China. "The country that imports the most leather from us is Germany. The reason for this high demand is that German companies are purchasing leather and leather products from Turkey, while selling other countries their own brands," explained Hazar.
Hazar also noted that they have faced some trouble due to the high demand since there was a small supply. "One consequence of the crisis is that meat consumption decreased, which leads to a fall in the amount of leather. After the high demand for leather, prices increased by 20 percent. If we didn't face a decrease in supply, the leather sector in Turkey could do far better in terms of exports and revenue. But the still-high exports is a sign that our sector will improve by 2011," emphasized Hazar. He stated that the leather sector will be reinvigorated by the upcoming Feast of the Sacrifice, when numerous animals are sacrificed, adding significantly to the supply of hides for tanning.
Hazar noted that the İstanbul Leather Fair will be held between Jan. 18-20, 2011 and that it could increase sales in the sector, adding that the fair will cover an area of around 13,000 square meters with 300 participating companies.
- Turkish Airlines selected as Europe’s best airline
Turkish Airlines won the Skytrax award for Europe's Best Airline for a third time and was also given two other awards.
- Rolls Royce pays no heed to British media coverage
English investors have not paid heed to the coverage in the international media painting a negative portrait of Turkey during the Gezi Park protests and continue to keep the country on its radar for investments.
- Turkey continues on the path to prosperity
Turkey has become the fastest growing nation for luxurious automobile brands. While luxurious brands experienced seven percent growth globally in the first five months of the year, in Turkey the rate of growth has reached the 100 percentile level.
- Cameron admires Turkey’s economy
While the English press continues to cover the Gezi Park protests to Turkey’s detriment, the British Prime Minister has praised Turkey’s ‘stability.’ David Cameron says “we admire your economy.”
- Turkey’s economy continues growth pattern
With the Central Bank’s deferred interest rate cut resulting in revitalizing domestic demand, Turkey’s economy experienced three percent growth in the first quarter of the year, sealing 14 quarters of continuous growth.
- Capital Markets Board to investigate Gezi Park speculators
The Capital Markets Board has initiated an investigation into exits from the stock exchange by speculators, in a move which followed Erdoğan’s acknowledgement of attempts by the interest rate lobby to instigate a drop in the stock exchange. Should the Capitals Market Board establish a connection between financial exists and speculators sanctions may be enforced.
- Çalık Holding refutes CNBC allegations
Çalık Holding has released a statement refuting claims made in reports by CNBC attempting to associate the group with redevelopment plans for Taksim’s Gezi Park.
- Turkey’s economy unphased by protests as sales continue
Saudi Arabian businessman Ehsaan Fareed Abduljawad has purchased two towers in the Ağaoğlu Maslak 1453 project for 200 million dollars. “We trust in Turkey’s economy,” said the billionaire.
- PM Erdoğan: The interest lobby will not reach their objective
The speculative attack on the markets came to a halt following Prime Minister Erdoğan’s statement directed at the interest-rates lobby, “We will not let you consume the great efforts of our nation.” The dollar has since dropped and the stock exchange is back on a rising trend.
- The real reason behind the Moroccan Business Confederation’s boycott during Erdoğan’s visit
During the past five days there has been a polemic concerning the boycott of the Moroccan Business Confederation (CGEM) of a meeting between Turkish and Moroccan businessmen which took place during Erdoğan’s trip to Morocco on June 3rd. While the decision had nothing to do with the on-going protests in Istanbul and other cities, the real reason is proving to be an internal conflict between the CGEM and the Moroccan government.
- Protesters demands stand to benefit Germany and the U.K.
The ‘economic’ demands set forth by the Taksim Platform, which spoke on behalf of the Gezi Park protesters in a meeting with Deputy Prime Minister Arınç on Wednesday, have resulted in a number of question marks. The main question being, why are they opposed to projects worth 120 billion such as the third bridge and airport, hydroelectric power plants and Canal Istanbul?
- Turkey invests in iron and steel in Algeria
Tosyalı Holding opened a 750 million dollar steel-iron factory in Algeria in a ceremony attended by Prime Minister Recep Tayyip Erdoğan. Expected to rake in an annual one billion dollar revenue, the facility will also provide one thousand jobs.
- Gezi Park protest incomparable to Occupy Wall Street
The Occupy Wall Street movement did not pose a significant financial burden in the United States, whereas the financial burden brought on in Turkey from the Gezi Park protests is exponential.
- New legislation and standards to come for ‘nargile’ water pipes
It will now be required to place health warnings on the glass portions of water pipes, regularly referred to as ‘nargile’ in Turkey.
