Textile and apparel exports from Turkey are expected to reach US $ 30 billion this year. This was announced by Merter Industrialists’ and Businessmen’s Association (MESIAD) Chairman Yusuf Gecü.
The data released by the trade association also states that Merter, a garment manufacturing hub in Istanbul, will export products worth US $ 7.5 billion.
Merter exports garments to various countries across the globe. The district houses around 10,000 apparel stores that employ 100,000 people.
The report adds that Merter attracts 3,000 apparel buyers from 60 countries every day. The importers are majorly from the US, Europe, Russia, Gulf Countries, Africa, Middle East, The Turkic Republics and the Far East regions.
Quality, innovation and the competitive pricing have been marked as the key reasons behind the country’s increasing exports this year.
Additionally, Turkish garments are cheaper than Europe and better in quality than China, Gecü said.
Turkey’s average exports value per kilogram is US $ 15 in apparel and US $ 5 in textile. The country aims to achieve the target of US $ 50 billion in exports by the year 2023.
In 2016, the Turkey’s overall garment and textile exports stood at around US $ 26 billion.
As per a market report, the textile manufacturing industry in Turkey is expected to grow at a CAGR of 10 per cent during 2016-2020 period.