World Bulletin / News Desk
Turkey's crude steel production rose 13.5 percent on an annual basis in the first nine months of 2017, reaching 27.7 million tons, the Turkish Steel Producers Association (TCUD) reported on Saturday.
According to data from the group, Turkey maintained its position as the world’s eighth-largest crude steel producer, accounting for over 2.1 percent of global crude steel output.
Turkey's steel exports also surged 8.3 percent annually to reach 13.5 million tons in the first three quarters of 2017. The value of steel exports surged 21.8 percent to $9.6 billion in the period.
During the same period, Turkey's steel imports fell 14.6 percent to 11.9 million tons yearly, while the value of these imports rose 4.5 percent to $8.8 billion.
Global crude steel production climbed 5.6 percent in the first nine months of the year compared to the same period in 2016, reaching 1.26 billion tons.
China kept the top spot among crude steel producers, with a 6.3 percent increase year-on-year leading to total production of 638.7 million tons, over half of world crude steel production.
Crude steel is an unrefined metal that is used in the construction industry. The Turkish construction sector grew by 6 percent and 6.8 percent in the first and second quarters of 2017, respectively, according to the Turkish Statistical Institute.
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The figure follows up growth of 0.9 percent in the first quarter of 2017, 0.6 percent in the second, and 0.7 percent in the third -- all adjusted for price, seasonal and calendar effects.
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