Tech Newswire

EU Buyers Looks to Shift Orders to Turkey

As China's factories remain either closed or working at partial capacity as a result of the coronavirus outbreak, buyers are starting to seek alternative sources.

 

For EU buyers, Turkey is an attractive option, given it's proximity to the end market, and the 36 percent devaluation of the Turkish lira over the past two years.

 

Still, Turkey can hardly take up anywhere near the manufacturing capacity that China has.  Turkish officials commented to Reuters that they expect about 1 percent of China's garment orders - about $2 billion, to shift to Turkey. 

 

However it is too soon to tell what the long term impact on Turkish apparel exports might be.  Speculation as to when the virus might peak in China is leaning toward mid-April - but it's a prediction not a certainty.

 

Currently, Turkish apparel exports amount to $17.7 billion per year.

 

 

| Categories: Sourcing | Tags: sourcing, supply chain | Return

 

Pitney Bowes reveals stats on the explosive growth
of global package delivery.
(mouse over video to adjust the sound)