Business · Economy · 5 hrs ago

Kahramanmaraş Industry Faces Weak Demand and Financing Strains

Kahramanmaraş Industry Faces Weak Demand and Financing Strains

Kahramanmaraş’s factories have largely rebuilt since earthquakes hit the city and 10 other Turkish provinces three years and eight months ago.

Many residents who left after the disaster have returned, and the city’s industrial workforce has been supported by jobs in construction.

The city’s yarn production capacity is now around 50%, below the 60% to 65% level before the earthquakes.

Industry association head İsmail Dinçer says the remaining problems are mainly about financing and business conditions, not earthquake damage.

Weak demand in Europe and competition from China and India have narrowed a key market for the city’s textile businesses, while geopolitical risks have also disrupted some shipments.

Factories are not running at full capacity, and uncertainty about when demand will recover is making investment difficult.

Dinçer says he cannot predict when global demand will improve, so the industry’s recovery remains uncertain.

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What people are saying

İsmail Dinçerpresident of the Kahramanmaraş Industrialists and Businesspeople Association (KASİAD)
The earthquake-related part has been resolved.
via Dünya
I do not know when the lack of demand in the world will change.
via Dünya
We got back on our feet after the earthquake, and just as we were about to run, a crisis broke out in the world.
via Dünya