Turkey has imported 1,100 circular knitting machines worth US $ 47.4 million in the first six months of 2018, according to the latest data reported by the Turkish Statistical Institute (TUIK). Compared to last year, the volume fell down from 1,132 circular knitting machines and the value dropped from US $ 61 million.
The decline of 32 machines in imports were driven by the overvaluation of foreign exchange rates (dollars and euros) and high interest rates.
China tops the list of the countries that exported circular knitting machines to Turkey with 391 machines. The cost of these machines was valued at US $ 11.4 million. Last year, China stood second with 270 circular knitting machines at US $ 8.4 million.
Germany this year, in the period of January-June 2018, holds the second position with 290 circular knitting machines worth US $ 21.5 million. With 369 machines at US $ 26.2 million in 2017, Germany witnessed drop in both volume and value in current fiscal.
Countries like Italy, Japan, Taiwan, South Korea saw a major decline as the exporter of machinery to Turkey. However, against these, England (UK) exported 165 circular knitting machines valued at US 0.71 million while last year the volume was just 11 machines worth US $ 0.49 million.
