As per the information from the Turkish Plastics Industry Association—PAGEV, the plastics sector added a revenue of $13 billion to the Turkish economy last year, placing it in the second-top position once more. Preceding this, the industry maintained the same rank the year before.

Holding a share of 2.7% in the global plastics sector, it ascended its rank from seventh to sixth in 2014.

The sector comprises of 6,500 manufacturers, both small and medium-scale businesses, offering incumbency to a quarter of a million people.  

The magnitude of the production’s output escalated by 3.2% in 2015 due to an increase in the generation of goods. The figures show the production to be at a whopping $32.9 billion. There has been a descent of 6.6%, however, owing to the drop in oil prices and disparity in Euro-Dollar rates.

Not only did the Turkish plastics industry produce the largest amount of plastic goods (8.6 million) and construction materials (1.9 million) in Europe, but with results like these, it utilized its potential to the optimum (73%).  

This led to a rise of 4.1% in the consumption of plastic goods in domestic markets. Their expenses were also cut back since the investment capital for machinery and other paraphernalia dropped to $839 million.

The industry has marked a momentous milestone by exporting the highest number of manufactured plastic goods to Iraq, Germany and the UK in 2015.

 

Source : dailysabah.com

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