Turkish Economy Surges Past $1 Trillion: Fueling Growth in Coal Imports

A high inflation rate and a weak currency have not deterred coal imports in Turkey. Despite these challenges, Turkey's gross domestic product grew by 4.5% in 2023, surpassing $1 trillion for the first time in its economy's history. This robust economic performance has driven strong coal imports, now surpassing the total imports from North West Europe, including Germany.

Our real-time data indicates that coal imports in the first quarter of this year will exceed 10 million tonnes, marking an 11.4% increase compared to the same period last year. On March 24 alone, imports are expected to reach close to 3.5 million tonnes, representing an all-time monthly high for the country.

While the power generation and steel sectors remain the primary importers of coal in Turkey, the cement and industrial sectors also play significant roles.

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