We are a World Giant in Supply, We will Be Stronger with Strategic Projects

Stating that they have successfully completed 2024 despite the difficulties as the Turkish textile and raw materials sector, Ahmet Öksüz, Chairman of the Board of Istanbul Textile and Raw Materials Exporters’ Association (ITHIB), said; “Despite the global contraction and increasing costs, we have shown our strength by maintaining our market share. However, we know that the key to the future is hidden in branding.”

The textile and raw materials sector closed 2024 with $11.5 billion in exports. The sector, which experienced a 1.3% loss compared to the previous year, had exported $11.6 billion in 2023. At the meeting hosted by ITHIB Chairman Ahmet Öksüz, developments in the textile and raw materials sector in 2024 and expectations for 2025 were shared. Ahmet Öksüz, who made evaluations at the meeting held with the participation of ITHIB Board of Directors Vice Presidents M. Fatih Bilici and Ali Sami Aydın and ITHIB Board of Directors Member Sultan Tepe, said the following: “As a result of the earthquake disaster in 2023, the contraction in global trade, high inflation and high increases in production costs, 2024 was a difficult year for our sector, as it was for many other sectors. However, the main reason behind the problems experienced in 2024 was the global recession. There were large big in the world’s largest textile markets such as the EU and the US. Despite this loss, we are happy to be able to maintain our market share in these geographies. We have set a target of 12 billion dollars as a sector for 2025.”

“We Focused on Keeping the Wheels Turning”

Ahmet Öksüz, who stated that while there was an increase in exports in quantity, there was a decrease of 1.3% in exports, said, “In 2024, we aimed to turn the wheels rather than make a profit as a sector. We need to increase our export prices by 10-15% in 2025, but the competitive conditions in world markets do not allow this. At this point, we should not forget that Turkiye is a strong supplier. We anticipate that the losses can be compensated with the effect of the global demand accumulated in the second half of the year.” Ahmet Öksüz, who said that there were serious increases in costs in terms of foreign currency, stated that the sector could not reflect these cost increases on its prices, especially due to the effect of the global contraction; “In addition to the global demand contraction, our exports did not reach the desired level due to the increase in production costs in the domestic market, the increase in the exchange rate and the reasons why they fell behind inflation.” he said.

“We Will Make a Difference in the USA”

Making important statements about Turkiye’s current situation and future goals in the textile and raw materials sector, Ahmet Öksüz drew attention to the fact that Turkiye could increase its power in the US market and said the following: The US is a very big market and Turkiye is the 5th largest supplier in the world. We hope that negotiations with the US will resume under the leadership of our Ministry of Trade. Because, textile and ready-to-wear are the sectors that the US demands the most from Turkiye. Their own domestic production is limited, they meet their needs largely through imports. Our textile exports to the US have currently exceeded 780 million dollars and we are the 8th largest supplier in the US. We can take this even higher with the preferential trade agreement that will include the textile sector. We hope for a recovery in 2025. The figures got a little better in the last quarter. We expect demand to be a little better globally in 2025. We have started to see this in Europe.

“We Can Achieve a Resilient Structure”

Emphasizing that Turkiye will continue to exhibit a strong performance in employment, exports and added value production by maintaining its leading position in the textile sector, Ahmet Öksüz said; “We believe that Turkiye’s biggest starting point is branding. Therefore, we should carry out structural reforms by cooperating with the relevant ministries and sectors. Thus, our country can reach a stronger position in branded exports. We think that if we can strengthen our efforts in branding, we can have a more resilient structure against future economic challenges.”

“We Will Reach a Production Volume of Over 80 Billion Dollars in 2025”

Stating that they predict that the textile and ready-to-wear sectors will close 2025 with a production volume of over 80 billion dollars, Ahmet Öksüz said, “The important thing is to keep our companies alive with valuable projects for our country and exports. For this, we continue to work with determination and perseverance in line with our sustainable export targets. In this context, our ‘Texhibition Istanbul’ fair has been the most important source of motivation for our sector during this difficult process.”