Turkey's synthetic yarn exports decline for third consecutive year

Turkey's synthetic yarn exports fell 4 per cent to 106K tons in 2024, marking the third straight year of decline. Despite fluctuations, the overall trend remained relatively stable. The highest growth occurred in 2021, when exports surged 36 per cent to a peak of 131K tons. However, since 2022, exports have struggled to regain momentum.

In value terms, exports dropped to $605 million in 2024, down from a peak of $759 million in 2022. The United States, Italy, and Russia remained the top destinations, accounting for 31 per cent of total shipments, while Georgia recorded the fastest growth, with exports rising at a CAGR of 79.6 per cent.

The leading export category was synthetic staple fiber yarn (not for retail), making up 65 per cent of total shipments. This segment grew at an annual rate of 3 per cent, while artificial staple fiber yarn exports declined by 11.1 per cent annually.

The average export price decreased 2.1 per cent to $5,872 per ton, with the US paying the highest price ($7,688 per ton) and Uzbekistan the lowest ($3,481 per ton). While prices showed a generally flat trend, Brazil recorded the fastest price growth at 10.5 per cent CAGR.