Turkey is all set to cross US $ 20 billion export turnover in its RMG industry in 2021.
The orders placed by European buyers have exceeded the expectations this year majorly because Turkey is located in close proximity to Europe, as mentioned by Mustafa Gültepe, Head of the Istanbul Apparel Exporters’ Association (IHKIB) recently.
“European brands are looking at Turkey due to problems in the supply chain, increased freight and logistics costs. We are receiving intense orders. The ready-to-wear sector will break a record this year with more than US $ 20 billion worth of exports, noting over 20 per cent Y-o-Y surge,” claimed Gültepe.
He further added that the RMG export industry is now eyeing a 15 per cent increase next year and looking to achieve turnover worth around US $ 23 billion.
According to Daily Sabah, a leading Turkish English daily, the disruptions that the pandemic has caused in the global economy, including in supply chains across continents, have prompted many global fashion retailers to consider turning away from low-cost manufacturing hubs in Asia.
It’s worth noting here that Turkey has clocked US $ 18.40 billion export turnover in its apparel sector in 11 months of 2021.
“If problems such as access to raw materials and financing for new investments are overcome, we see no obstacles to achieving the US $ 23 billion foreign sales goal next year,” shared Gültepe.
