Market Monitor - Chemicals performance - Turkey

Market performance at a glance 

Turkey

• The Turkish chemicals sector is expected to grow in 2015, driven by increasing demand. Lower oil prices have a positive effect on industry performance.
• However, the sector is structurally vulnerable due to its dependency on export markets and foreign exchange volatility.
• The overall indebtedness of businesses is high in this sector, but banks are generally willing to provide loans to the chemicals industry.
• The average payment duration in the Turkish chemicals industry is 120 days. The number of payment delays and insolvency cases is low, and no increase is expected in the coming months.
• Due to the general positive indicators, our underwriting stance for the Turkish chemicals sector is currently relaxed.