The rising interest rates in Turkiye, which spiked from 15 per cent in 2023 to 50 per cent by November 2024, have been adversely affecting the country’s textile industry, a key player in its export economy.
The sector now faces reduced demand from major markets. Turkiye’s apparel exports decline, and economic challenges spurred the necessity for strategic adjustments and sustainable practices.
The rising interest rates in Turkiye, which spiked from 15 per cent in 2023 to 50 per cent by November 2024, have been adversely affecting the country’s textile industry, a key player in its export economy.
The sector now faces reduced demand from major markets. Turkiye’s apparel exports decline, and economic challenges spurred the necessity for strategic adjustments and sustainable practices.