Turkey's April white goods sector results

Turkey’s April white goods sector results

White Goods Industrial Association (BESD) announced April sales and production figures of Turkey's white goods sector. Accordingly, domestic white goods sales amounted to 379'708 units in April, up by 108.7% compared to the same period of last year. In the same period, exports of white goods were also up by 27.6% and reached 603'204 units. White goods production was recorded as 965'536 units in April, indicating a rise of 48.8%. Production and sales figures indicated a rise when compared with the last year, but they reduced compared to March. It is seen that the increase in US Dollar exchange rate and ascension in interest rates coupled with the fluctuation in markets impacted the sales negatively. Looking at the four months' figures, total production increased by 47% to 3.48 million units. Exports also soared by 41% to 2.18 million units while domestic sales were up by 71% to 1.33 million units. Exports are expected to grow by 25% this year. Consumer financing in white goods sales is mainly provided by companies. Therefore, the increase in consumer loan interest of banks is not forecasted to create a significant pressure on demand in the short term.