Machinery Sector Demands Single-Center Restructuring and Strategy Presidency
Sevda Kayhan Yılmaz, President of the Machinery Exporters' Association, stated that exports reached $18.8 billion in the January-August period and called for the establishment of a Machinery Industry Strategy Presidency to consolidate public resources.
Announcing that machinery exports increased by 1% in value terms to reach $18.8 billion in the January-August period, Machinery Exporters' Association President Sevda Kayhan Yılmaz requested the creation of a new master intelligence and strategy presidency to coordinate the sector's development.
Changes in Export Data
Although the machinery sector's exports declined by 6.8% in volume terms during the January-August period of this year, they increased by 1% in value, reaching $18.8 billion.
Export Distribution by Country
Exports to Germany increased by 7.8% to exceed $2.2 billion, while exports to the USA recorded a 29.4% increase. Conversely, markets in Iraq and Russia experienced contractions of over 30%.
Global Competition and Cost Pressures
While oil prices exceeding $100 increased production costs, China's 25% increase in exports brought global competition to an asymmetrical dimension.
Financing Costs and Incentive Proposal
During this period when high interest rates and exchange rate fluctuations erode business balance sheets, it was argued that operating profit and net added value should be taken as the basis for export incentives.
Demand for the Strategy Presidency
The establishment of a Machinery Industry Strategy Presidency was requested to consolidate the accumulations of public institutions in a single center and coordinate global policies.