The umbrella organization of the construction equipment division announced the November 2022 results of the Foreign Trade Index, which is prepared every month by the Turkish Construction Equipment Manufacturers Association (Turkey IMSAD). According to the index; The weakening in exports of construction equipment in September and October continued in November as well. In the report, the shrinkage in export markets was evident in November; While one of the lowest exports of the year was realized in terms of cost, annual construction materials exports decreased to 34.1 billion dollars.
Annual export unit price increased in November 2022 compared to the same period of the previous year.
Construction equipment exports experienced a price decrease of 5.8 percent compared to the same period of the previous year, with 2.57 billion liras in November 2022. The export size, which was 4.04 million tons, decreased by 22.3 percent compared to the previous year. This measure drew attention as the lowest export rate realized in 2022. While it was revealed that the shrinkage effect in the markets was felt strongly, the average annual export unit price of the construction equipment industry increased by 21.2 percent in November 2022 compared to the same period of the previous year. While the average export prices were 0.53 dollars/kg in November of 2021, it was 0.64 dollars/kg in November 2022. In addition, the average export unit price increased compared to October 2022.
The highest unit price of 2022 in imports
In November 2022, imports of construction equipment decreased to 875 million dollars. However, imports were 17.3 percent higher than November last year. In November 2022, the import of construction equipment was 270,605 tons. As a measure, imports decreased significantly. Construction materials industry import unit price reached the highest level of the year with 3.23 dollars/kg in November 2022.
Construction equipment exports started to lose value in the last quarter of the year. Depending on the November 2022 export performance, annual exports decreased to 34.1 billion dollars in November. While the export size decreased to 58.73 million tons, the average export unit price was realized as 58 cents/kg per year.
The export performance of sub-branches is declining gradually
In the research, in which only 3 of the 8 sub-branches recorded expensive increases in November compared to the same month of the previous year, while the increases in sub-sections were mostly due to unit price increases, decreases were observed in terms of measure. In November 2022, export unit prices in all eight sub-works clusters were higher than in November 2021. Global commodity and latest artifacts prices have entered a downward trend, but are still above last year’s prices.
There are large differences in the middle of unit prices
According to the report prepared by Türkiye İMSAD; In November 2022, the export unit price of mineral works increased by 24.2 percent compared to the same month of the previous year. While the average export unit price of iron and steel works increased by 5.8 percent compared to the same month of the previous year, metal-based works increased by 7.6, wood and wooden works increased by 14.9 percent, and chemical-based works increased by 1.4 percent. Exports, in November of 2022, were measured in 6 of the 8 subsets of the last year’s November. under realized, there was an increase in 2 sub-branches. As a measure, the relationship of the decreases was shown as the base effect of the increase seen in the previous year. In November 2022, exports decreased by 17.0 percent in iron and steel works, 26.4 percent in mineral works, 18.7 in metal-based works and 21.8 in insulation materials.
In November 2022, exports rose as value in 3 of 8 sub-branches. In November 2022, the increase in exports as a cost was 17.2 percent in chemical-based works, 2.6 percent in wood and wooden works, and 9.6 percent in electrical materials and equipment. Exports decreased by 12.2 percent in iron and steel works and by 12.5 percent in metal works. Insulation equipment exports as re-assessment lost 17.9 percent in November.