The first billion

The metal fasteners and hand tools industry in Turkey is now worth more than US $ 1.5 bn. In 2010 goods to the value of US $ 957.6 mio went for export, which is 25 per cent more than the year before. The one-­billion US $ mark was then cracked last year. These are some of the figures published by the Istanbul Ferrous and Non-Ferrous Metals Exporters’ Association (IDDMIB). Admittedly, Turkey is placed no higher than 25th in a global ranking of exporters of metal fasteners and hand tools; nevertheless, growth rates of 19.2 per cent between 2007 and 2010 exceed those of the front-runner, China (14.9 per cent). Germany takes a share of 17 per cent, making it the biggest importer of Turkish fasteners and hand tools. It is followed by Iran (eight per cent), Russia (seven per cent) and Irak (five per cent). The hand tools segment felt the full force of the 2009 crisis in the sales markets, when its export volume caved in by nearly one-fifth. However, an increase of 26 per cent to US $ 111.1 mio no later than the following year meant that it exceeded even the pre-crisis level. Then in 2011 there was yet another leap of 20 per cent to US $ 134.5 mio.  Download: