According to data from TUIK (Turkish Statistical Institute), Turkey witnessed an increase in both steel imports and exports under HS code 72 in May 2023, compared to the previous month.
Steel import volume saw a significant rise of 12.6pct, reaching 4.2 mln tons compared to the previous month. The import value of steel also experienced growth, increasing by 17.4pct to USD 2.85 bln in April.
During the first five months of 2023, steel imports into Turkey amounted to 17.7 mln tons, with a total import value of USD 11.25 bln.
In May, Turkish steel exports demonstrated substantial growth on a month-on-month basis, with a 27pct increase in export volume to 817,084 tons. The value of steel exports also surged by nearly 24pct to USD 746.9 mln.
From January to May 2023, Turkish steel suppliers exported a total of 3.73 mln tons of steel, amounting to a value of USD 3.43 bln.
