The contraction of domestic sales and exports of white goods accelerates

The Turkish Home Appliance Manufacturers Association (TÜRKESD) announced the domestic sales and export data for February 2023.

Consequently, domestic sales of 6 main products increased 2 percent to 747,929 in February compared to the same period of the previous year; In the first 2 months of the year, the rate of increase in domestic sales was 13 percent compared to 2022.

On the other hand, while production decreased 5 percent annually to 2,801,734 units in February; In the first 2 months of the year, it decreased by 2 percent compared to the same period of the previous year.

The largest decline was recorded in exports.

Home appliance exports, which were down 16 percent on an annual basis in February, were down 13 percent in the first 2 months of the year compared to the same period a year earlier. Imports, for their part, increased 63 percent and 23 percent, respectively, in the same intervals in February.

‘COSTS, SUPPLY TENSION AND EFFECTIVE INFLATION’

According to the president of TÜRKESD, Can Dinçer, the trend of contraction in exports, which constitutes 75 percent of the sector’s sales, continues due to world events.

After last month’s contraction, Dinçer made the following assessment: “Like last year, the war, the increase in energy costs, supply problems and global inflation have an impact on exports.”

CONTRACT IN TOTAL SALES INCREASES TO 7 PERCENT

Reporting that total sales, including domestic and export sales, decreased 7 percent to 5 million 6 thousand 997 units, Dinçer said: “For the rest of the year, regulations that will support consumer purchasing power in the national sales and guarantee that our sector maintains its export competitiveness will be very important”.

On the other hand, according to TÜRKESD data, while exports contracted by 10 percent in the first month of the year compared to January 2022; Total sales, including domestic sales and exports, decreased 2 percent to 2,407,148 units.