Turkey: Hand Tools Market 2024

Hand Tools Market Size in Turkey

In 2022, after two years of growth, there was significant decline in the Turkish hand tools market, when its value decreased by X% to $X. In general, consumption, however, enjoyed a resilient increase. Over the period under review, the market attained the peak level at $X in 2021, and then fell notably in the following year.

Hand Tools Production in Turkey

In value terms, hand tools production dropped sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Hand tools production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Hand Tools Exports

Exports from Turkey

In 2022, exports of hand tools from Turkey rose slightly to X tons, growing by X% compared with 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, hand tools exports rose significantly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) 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 United States (X tons), twofold. Montenegro (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Montenegro (X% per year).

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

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Russia (X% per year).

Export Prices by Country

The average hand tools export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Montenegro ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Turkey

In 2022, supplies from abroad of hand tools decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, hand tools imports expanded sharply to $X in 2022. Over the period under review, imports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) 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 tons), twofold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, 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, the largest hand tools suppliers to Turkey were Germany ($X), China ($X) and Italy ($X), together comprising X% of total imports. Taiwan (Chinese), the United States, Switzerland, Vietnam and India lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 ton in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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