Turkish Wire & Cable Exports Surge Amid Energy Costs, Supply Chain Disruptions
Turkish electrical wire and cable exports have seen a significant rise since 2021, primarily driven by surging energy costs and supply chain disruptions. The UK remains the top destination for these exports, while China is the leading supplier to Turkey. In 2024, the average import price of gold reached $X per ton, marking an X% increase from the previous year.
The escalating export prices can be attributed to several factors. Increased energy costs, particularly industrial electricity prices, have had a substantial impact. Higher raw material prices and supply chain disruptions have also played a significant role. Geopolitical factors affecting energy supply and regulatory changes in the energy sector have further contributed to rising production costs, which are ultimately passed on to export prices. This trend aligns with broader energy price hikes affecting manufacturing sectors both in Turkey and globally.
In 2024, China held a X% share of Turkey's total wire and cable imports. Meanwhile, the UK accounted for a X% share of Turkey's total exports, receiving approximately X tons of insulated wire and cable, a X% increase from the previous year. Prices varied significantly by country of origin, with France having the highest price and China the lowest. Despite this, overseas purchases of insulated wire and cable decreased by X% to X tons in 2024, following four years of growth.
Wire and cable production in Turkey reached $X in 2024, demonstrating a notable growth rate. However, the Turkish market for these products fell slightly to $X in 2024, with a X% decrease from the previous year. Exports, on the other hand, expanded significantly to $X in 2024, marking a substantial increase from 2012 to 2024. Although wire and cable consumption peaked at $X in 2021, it remained at a lower figure from 2022 to 2024.
