Türkiye in the World Textile Market: Trends and Prospects

Abstract

The research aims to identify the importance of the Republic of Türkiye in the global textile market. The research methodology is based on basic methods of scientific cognition, such as analysis, synthesis, deduction, and induction. From the particular methods used, it is worth highlighting the applicable comparison method. During the research, the authors carried out a content analysis, mainly of scientific works by Turkish scientists and news from the Turkish media. The research object is the global textile industry market. Nowadays, Türkiye faces damaged industrial buildings and an acute labor shortage. The country will need to spend a lot of time and efforts to restore its former production capacity in economically important regions, which will affect the country's export potential. COVID-19 has greatly affected the state of various sectors of the economy; the global textile market is no exception. Unlike other sectors of the economy, the global textile market recovered quickly; by 2021, it had regained its production capacity. In turn, Türkiye was even able to exceed its exports and increase its role in the world market. The country did not have time to reach new heights: on February 6, 2023, several powerful earthquakes occurred in economically important provinces of Türkiye. Most of them are provinces of the expensive the Southeastern Anatolia Project (GAP) project, where 60% of the cotton of all Türkiye is produced, and the population mainly works in the textile industry.

Citation

Digilina, O.B. and Gasimova, E.R. (2024), "Türkiye in the World Textile Market: Trends and Prospects", Eshov, M.P., Abdurakhmanova, G.K., Burkhanov, A.U., Abdusalomova, N.B. and Ergasheva, S.T. (Ed.) Development of International Entrepreneurship Based on Corporate Accounting and Reporting According to IFRS (Advanced Series in Management, Vol. 33B), Emerald Publishing Limited, Leeds, pp. 91-97. https://doi.org/10.1108/S1877-63612024000033B012