Turkish apparel exports drops by 10% in H1 2024

In the first half of 2024, Turkish apparel exports experienced a significant decline, falling by 10% to 8.5 billion US dollars. This decrease highlights the challenges facing the Turkish apparel industry amid global economic slowdown and changing trade dynamics.

Several factors contributed to this downturn. The global economic environment was characterized by reduced consumer spending, which affected the demand for apparels in key markets. Additionally, intensified competition from other apparel exporting countries and currency fluctuations were also responsible for the slump.

Despite these challenges, the Turkish apparel industry remains a significant part of its economy and is currently working to mitigate the impact of the decline in exports. Industry stakeholders are exploring new markets and increasing production efficiency to restore competitiveness. Moreover, supportive government policies aimed at enhancing the industry's resilience and promoting innovation are expected to aid in the recovery.

The outlook for the second half of 2024 will depend on the effectiveness of these strategies and the development of global market conditions.