Turkey: Hand Tools Market Overview 2021

Hand Tools Market Size in Turkey

The Turkish hand tools market dropped notably to $X in 2019, waning by -X% against the previous year. Over the period under review, consumption continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2010 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.

Hand Tools Production in Turkey

In value terms, hand tools production fell to $X in 2019 estimated in export prices. In general, production continues to indicate a perceptible decrease. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Hand tools production peaked at $X in 2012; however, from 2013 to 2019, production remained at a lower figure.

Hand Tools Exports

Exports from Turkey

In 2019, the amount of hand tools exported from Turkey expanded rapidly to X tonnes, growing by X% compared with the previous year's figure. The total export volume increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, exports attained the maximum at X tonnes in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

In value terms, hand tools exports stood at $X in 2019. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2013; however, from 2014 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Germany (X tonnes) was the main destination for hand tools exports from Turkey, accounting for a X% share of total exports. Moreover, hand tools exports to Germany exceeded the volume sent to the second major destination, the U.S. (X tonnes), threefold. The third position in this ranking was occupied by Iraq (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Germany stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (+X% per year) and Iraq (+X% per year).

In value terms, Germany ($X) remains the key foreign market for hand tools exports from Turkey, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports. It was followed by Iran, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Germany amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (+X% per year) and Iran (+X% per year).

Export Prices by Country

In 2019, the average hand tools export price amounted to $X per tonne, which is down by -X% against the previous year. Overall, the export price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. The export price peaked at $X per tonne in 2007; however, from 2008 to 2019, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Iran ($X per tonne), while the average price for exports to Montenegro ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Iran, while the prices for the other major destinations experienced a decline.

Hand Tools Imports

Imports into Turkey

In 2019, approx. X tonnes of hand tools were imported into Turkey; which is down by -X% against the year before. Overall, imports showed a deep setback. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Imports peaked at X tonnes in 2011; however, from 2012 to 2019, imports stood at a somewhat lower figure.

In value terms, hand tools imports contracted to $X in 2019. Over the period under review, imports recorded a slight contraction. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Imports peaked at $X in 2014; however, from 2015 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, China (X tonnes) constituted the largest supplier of hand tools to Turkey, accounting for a X% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tonnes), threefold. Italy (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Italy (-X% per year).

In value terms, Germany ($X), China ($X) and the U.S. ($X) constituted the largest hand tools suppliers to Turkey, with a combined X% share of total imports. Italy, Taiwan (Chinese), Switzerland, Spain, Austria, India and Iran lagged somewhat behind, together accounting for a further X terms of the main suppliers, Iran recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hand tools import price stood at $X per tonne in 2019, shrinking by -X% against the previous year. Overall, import price indicated a perceptible increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, hand tools import price increased by +X% against 2017 indices. The growth pace was the most rapid in 2012 an increase of X% year-to-year. Over the period under review, average import prices attained the maximum at $X per tonne in 2018, and then dropped modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Italy, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hand tools in the world?

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The countries with the highest volumes of hand tools consumption in 2019 were China (577K tonnes), the U.S. (341K tonnes) and Japan (112K tonnes), together accounting for 35% of global consumption. These countries were followed by Italy, Germany, the UK, Brazil, Russia, France, Canada, Viet Nam, South Korea and Indonesia, which together accounted for a further 25%.

What are the largest producers of hand tools in the world?

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China (1.7M tonnes) constituted the country with the largest volume of hand tools production, accounting for 63% of total volume. Moreover, hand tools production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (176K tonnes), tenfold. The third position in this ranking was occupied by Italy (115K tonnes), with a 4.3% share.

What are the leading suppliers of hand tools to Turkey?

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In value terms, the largest hand tools suppliers to Turkey were Germany ($30M), China ($17M) and the U.S. ($9M), with a combined 53% share of total imports. Italy, Taiwan (Chinese), Switzerland, Spain, Austria, India and Iran lagged somewhat behind, together comprising a further 27%.

What are the leading importers of hand tools from Turkey?

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In value terms, Germany ($13M) remains the key foreign market for hand tools exports from Turkey, comprising 22% of total exports. The second position in the ranking was occupied by the U.S. ($5.1M), with a 8.5% share of total exports. It was followed by Iran, with a 4.9% share.

What is the average export price for hand tools in Turkey?

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In 2019, the average hand tools export price amounted to $5,845 per tonne, which is down by -7.6% against the previous year.

What is the average import price for hand tools in Turkey?

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The average hand tools import price stood at $10,874 per tonne in 2019, shrinking by -1.9% against the previous year.