Developments in the consumer durables sectors
The global white goods market narrowed by 3% in revenues to USD 225 billion due to the energy crisis that resulted from the conflict between Russia and Ukraine, and the negative impact inflationist pressure dominating global markets had on purchasing power in 2023.
In Europe (the European market excluding Turkey and Ukraine), Turkey’s main export market, the white goods market shrank by approximately 3.5% in volume in 2023 as compared to the previous year.
In 2023, the Western European market contracted by approximately 5.5%, contributed also by the marked shrinkage in Germany. The contraction of the UK market was approximately 4.8%, while that of the German market was 8.7%, and French market was 6.3%; Italy shrank by 1.7%, Spain by 1.3%, the Netherlands by 7.1%, Belgium by 4.7% and Austria by 11.0%.
The Eastern European market excluding Ukraine recorded approximately 1.2% growth in 2023. Sales volume in Poland, which is the second largest market in the region, dwindled by approximately 12.5% year-on-year. The Romanian market posted about 8.2% shrinkage.
In addition to the above, the Ukrainian market showed a positive performance to achieve 12.9% expansion in the period that followed the war.
The South African white goods market, which is one of our main markets apart from Europe, slimmed down by 6.6% as compared to 2022.
In 2023, domestic sales in the main products group grew by 14% to 9,538,899 units in the Turkish white goods market.
Exports ended the year at the order of 23 million units, down by 10% year-on-year. Total production became 32 million units, 1% lower than what it was in 2022.
TV market grew by approximately 3.5%, whereas the air conditioning market expanded by 68.3% in volume.