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Turkey becomes net importer of wire rod in Q1 2023

26 May 2023 14:12 reported by Eric Xiao

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According to the Turkish Statistical Institute (TUIK), in the first quarter of 2023, Turkey exported around 129,000 tons of wire rod products, down by 56.5% year on year, while importing 170,700 tons of wire rod products, up by 54.3% year on year.

In previous years, Turkey usually exported more wire rods than it imported, but in the first quarter of this year, it switched from a net exporter to a net importer.

According to the origin of imports, Russia accounted for 45%, Europe was 29%, Asia took a share of 16%, and the Middle East and North Africa region occupied 10%.

In terms of wire rod exports in the first quarter, Middle East and North African countries imported around 67,100 tons from Turkey, a year-on-year decrease of nearly 26%; Europe imported 25,700 tons, a year-on-year decrease of 80.9%; America imported 15,800 tons, a year-on-year decrease of 57%.

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