Higher Freight Rates Between China And Europe Benefit Turkey'S Textile Exports

Due to the rising freight rates and high transportation costs of China Europe routes, it is expected that the export of Turkish textiles, clothing and household textiles will grow in the second half of this year. China's export to Italy costs more than five times that of Turkey's exports to Europe, thus giving Turkey a competitive advantage.

As most countries have begun to add vaccines, coupled with mandatory control measures and emerging business models to curb the spread of the epidemic, global demand for clothing and textiles continues to rise, which promotes Turkey's textile and clothing exports.

According to TEXPRO, a market analysis tool for fiber2fashion, the export value of Turkish textiles, clothing and household textiles in January 2021 was $2.33 billion, with a growth rate of 14.99% in the first quarter of 2021, and reaching $2.68 billion in March 2021. Exports will increase to US $2.79 billion in June 2021 and will reach US $2.96 billion in December 2021.