NEWSROOM

The construction sector revived in the third quarter of the year. According to IMSAD data, the sector, which closed the second quarter of the year with $4.34 billion of export income due to the Covid-19, entered a recovery process with exports of $5.51 billion in the third quarter.

*** This release is originally published in Turkish.
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ISTANBUL (TR) - According to the October 2020 Sector Report published by IMSAD, the construction materials industry revived its exports in the third quarter of the year. Export segment weakened under the effect of Covid-19 in 2020, fell to 5.08 billion dollars income level in the first quarter and to 4.34 billion dollars in the second quarter. Entering a rapid recovery process in the third quarter, the sector realized its exports with the 5.51 billion dollars. The construction material industry had a troubled year in 2019 due to the contraction in the construction industry. The sector shrank 11.5 percent in the third quarter after the contraction it experienced in the first half of 2019, and grew 0.1 percent in the last quarter. The growth of 8 percent recorded in production in the first quarter of 2020 was promising, but there was an 8 percent contraction in the second quarter due to the pandemic.

“Exports will exceed 6 billion dollars in the last quarter of the year”

Positioned as a project data and demand bank for the exchange of goods and services between suppliers and contractors, YapıRadar.com's General Manager Devrim Ünal Saygın, said, “In the third quarter, there was a rapid growth in construction materials industry production with 14.2 percent. There was a strong expansion in both domestic and foreign demand. We anticipate that production, neutralized by the growth pandemic at the beginning of 2020, will continue with the acceleration it gained in the third quarter and exports will exceed $6 billion in the last quarter of the year. This means that exports of construction materials will close this year at over $20 billion.”

Credit supports increase the demand for construction materials

Pointing out that there was a significant leap forward in the domestic sales of the construction material industry at the end of the third quarter, YapıRadar.com General Manager Devrim Ünal Saygın said, “The construction sector, which mostly utilized the credit support provided due to the pandemic, turned towards completing its existing works rapidly. Consequently, there was an important demand for construction materials. Construction industry 'digital project knowledge base' in addition to bringing project details to the feet of suppliers in Turkey and abroad, we as YapıRadar.com have provided our best support in this process by building bridges between suppliers and contractors in order to reduce purchasing costs. We helped the construction companies reach the supplier companies and receive offers by requesting their purchases from each item from the project stage to the completion stage, and we will continue to do so.”