Turkish textile machinery sold below value as capacity idles
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Turkish textile and apparel manufacturers are selling machinery and factories below their value as capacity remains idle after three years of declining employment, exports, and production. Triko industry president Mustafa Balkuv said the sector has lost 55 percent in volume over three years and 22 percent in revenue. Istanbul Apparel Exporters' Association head Mustafa Paşahan said idle factories could restore employment to 1.2 million if brought back into operation.
Key Facts
- Turkey's triko sector lost 55 percent in volume and 22 percent in revenue over the past three years, according to Triko Industrialists Association president Mustafa Balkuv.
- Approximately 400,000 people have become unemployed in the textile and apparel sector over the past three years.
- Idle factories could restore sector employment to 1.2 million if brought back into operation, said Istanbul Apparel Exporters' Association president Mustafa Paşahan.
- Machinery listings on Turkish classified sites include a production facility priced at 850,000 lira, a quilt plant at 1 million lira, and an established factory at 9 million lira.
Capacity Erosion
Turkey's textile and apparel sector has lost employment, exports, and production for three consecutive years, leaving capacity idle. Triko Industrialists Association president Mustafa Balkuv said the sector is 55 percent behind in volume and 22 percent behind in revenue over the past three years. Balkuv stated that while competitors invest in new-generation technologies, Turkish manufacturers have spent four years trying to sell machines bought for 10 lira at 2 lira. He said Turkey's industry has paid a heavier price than Iran, which is under bombardment, because the government's economic program lacks production.
Employment Impact
About 400,000 people have lost jobs in the sector over the past three years. Istanbul Apparel Exporters' Association president Mustafa Paşahan said idle factories could restore employment to 1.2 million if brought back into operation. Paşahan argued that instead of new investment incentives, existing idle factories in incentivized regions should be restarted to reach those employment figures. He said a 10,000-dollar increase in exports compared to last year would be a psychological threshold for the sector.
Machinery Sales
Medium and small-scale factories and producers are listing machines on classified sites, including sewing, overlock, dyeing, and quilt production lines. Listings include a production facility with machinery priced at 850,000 lira, a quilt plant at 1 million lira, and an established factory at 9 million lira. Balkuv warned that falling capacity means the sector will be unable to meet orders if business volume increases in the future.
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Turkish textile machinery sold below value as capacity idles
