IGEMEIhracatý Geliþtirme Etüd Merkezi (Export Promotion Center of Turkey)
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The downturn resulted in the country's 20 major paint companies--such as Betek, Bayer Turk, Marshall Boya, Dyo Boya, Akzo Nobel, Jotun Turkey, Hempel Turkey and Polisan (NOTE--ALL SPELLINGS CORRECT)--which dominate 80% of paint production, taking greater market share as Turkey's 600 small and medium-sized manufacturers struggled to stay afloat, according to IGEME.
Exports, which account for around 5 to 10% of market volume, were particularly hit, dropping from USD452 million in 2008 to USD428 million (GBP300 million to GBP284 million) in 2009, according to IGEME. The industry's majority of exports are mid-price range interior and exterior synthetic-polymer based paints and lacquers destined for Russia, Ukraine, Iraq, Bulgaria, Romania and China, according to Mizrahi.
While IGEME estimated the value of the overall sector at USD2 billion, with the decorative sector accounting for some USD1.2 billion (GBP798 million), Mizrahi said the decorative market was valued at USD773 million (GBP514 million) in 2009, implying a major drop in overall sales last year.
Germany, Iraq, Russia, Kazakhstan, Israel, Italy, Azerbaijan-Nahcevan and Libya were other countries that imported the highest amount of gold products from Turkey in 2009, IGEME's report said.
The award was given for IGEME's contributions to develop trade among members of the Organization of the Islamic Conference (OIC).
Turkish State Minister Zafer Caglayan received IGEME's award from the Islamic Development Bank on behalf of Turkey.
Beratiye Oncu, Deputy Secretary General, IGEME, Export Promotion Center of Turkey
According to reports of Export Promotion Center (IGEME), beer is on top in Turkey's export of alcoholic beverages.
Export Promotion Centre, Turkey Sevim Yalcin, Director, IGEME, Industry Department