Business · Trade · 5 hrs ago

Turkey’s garment sector sees a pause, not a recovery, industry leaders say

Turkey’s garment sector sees a pause, not a recovery, industry leaders say

At a garment industry conference in Istanbul, Turkish industry leaders said the sector is stabilizing, not recovering.

They said demand weakened amid geopolitical tensions and higher energy prices.

From January to July, garment imports fell 4.9% in the European Union and 8.2% in the United States, while Turkey’s losses were 1.5%.

Turkey’s exports to North America rose 4.6%, and industry employment has started to increase, while insolvency protection applications fell 28%.

But producers have lost profitability, and the industry’s unit prices have risen 13% since 2022 without increasing added value.

Leaders say government support is needed to make the balance last, including a period of stabilization support and a more measurable system of incentives.

Turkey’s trade ministry said garment exports fell about 2.5% and called for more investment in design, technology, branding and sustainability.

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What people are saying

Toygar NarbayTGSD joint president
But this is not a recovery, it is a pause.
via Dünya
Without the ground improving and the stabilization-period support requested by TGSD being fully provided, we cannot say this balance is permanent.
via Dünya
Nearshoring is not a preference, it is insurance.
via Dünya
Mehmet Ali KılıçkayaTrade Ministry export director general
Despite all these developments, Turkey's total goods exports increased by 5.2% in January-September this year compared with the same period last year and reached 211 billion dollars.
via Dünya