Hit by rising costs, Turkey’s textile producers move overseas

Hit by rising costs, Turkey’s textile producers move overseas

Textile manufacturers in Turkey, struggling with pricing pressures and labour costs, are moving their operations overseas, although at least some in the sector see a turnaround by the year’s end. The Istanbul Chamber of Industry sectoral purchasing managers’ index for March showed sentiment among textile manufacturers was the lowest among the 10 sectors covered by […]

PMI sentiment in sector at 41.1

Companies moving operations to Egypt

New export orders plunge

Textile manufacturers in Turkey, struggling with pricing pressures and labour costs, are moving their operations overseas, although at least some in the sector see a turnaround by the year’s end.

The Istanbul Chamber of Industry sectoral purchasing managers’ index for March showed sentiment among textile manufacturers was the lowest among the 10 sectors covered by the monthly survey.

It came in at 41.1 points, well below the 50 points indicating a positive outlook. The downward move in output for the sector continued a nine-month trend, and there was a steep drop in new orders as well as a fall in hirings and purchasing activity. 

NewsletterGet the Best of AGBI delivered straight to your inbox every week

One of the sharpest falls was in the sub-index of new export orders, down from a near-neutral 48 points in