Kağan Yeşil
Bursa Plastic and Packaging Industrialists Association (BURPAS)
Chairman of the Board
The Turkish packaging sector, which has succeeded in improving its position in the world market every year, achieved an export of 3.32 billion dollars in the first half of 2024, showing a 7 percent increase compared to the same period last year. With the sector generating a foreign trade surplus of 1.15 billion dollars, there is an expectation to complete the second half of 2024 with a better export performance. On the other hand, Turkey's October exports increased by 3.6 percent, reaching 23.6 billion dollars. Among the sectors with the highest exports, automotive ranked first with 3.5 billion dollars, while the chemical sector succeeded in becoming Turkey's second largest exporting sector in October with 2.47 billion dollars in exports.
It seems that the time has come for Turkey to determine new strategies for its exports, which have been stuck around the 250 billion dollar mark in recent years. Especially in textiles, automotive, and agriculture, it seems that a limit has been reached. It is not very likely that these sectors, with their current structure, will be able to push the country's exports higher. According to 2023 data, Turkey, which ranks 34th in the world in exports, needs a new roadmap. One of the sectors showing growth potential and having a clear path forward is undoubtedly chemical substances and products. Moreover, this sector, which generates a foreign trade surplus, falls into the category of value-added products that have been talked about for years. We have an average deficit of 100 billion dollars between our exports and imports each year. However, our packaging sector generated a surplus of 1 billion dollars while realizing a total export of 3.32 billion dollars in the first half of the year.
When comparing the export performance of the first nine months of 2024 with 2023, there is a 6.7% increase. As of the end of September, the sector's exports reached 7.67 billion dollars, and are expected to reach 10 billion dollars by the end of the year.
GLOBAL MARKET SIZE 1.03 TRILLION DOLLARS
Globally, the packaging sector is estimated to have reached a market size of 1.03 trillion dollars in 2023, and this volume is expected to reach 1.05 trillion dollars in 2024. Furthermore, the global market size of the sector is projected to reach 1.44 trillion dollars by 2034.
Turkey's share of such a large market remains like a drop in the ocean. The potential and vision to expand this market lie with Turkish industrialists. With the right incentives and a good strategic plan, it is highly probable for the sector to rapidly reach an annual export of 100 billion dollars. While many reasons such as pressure on exchange rates, high inflation, high interest rates, difficulties in accessing finance, wars and environmental conflicts, global economic instability, stagnation in Europe, the climate crisis and its consequences hinder industrial production, Turkish industrialists continue their path with determination despite all problems.
WE EXPECT A DECLINE IN INFLATION AND INTEREST RATES
In conclusion, we can consider that America's emergence from the election environment will significantly impact 2025. President Trump's actions will affect the whole world, either positively or negatively. The success of Turkey's economic program is undoubtedly extremely important for us. We expect a decrease in inflation and, consequently, interest rates starting next year. At the same time, the world seems to be on the verge of a new era with artificial intelligence and robotic systems. We must catch this transformation in terms of country and sectors. In addition to fundamental concepts such as R&D, innovation, and sustainability, we must find a way to integrate ourselves by closely following this technological transformation. Otherwise, we might miss this fast train and fall into the position of mere consumers.
This content has been translated using artificial intelligence technology.