Turkey’s machinery exports exceed $18 billion in 8 months

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Turkey’s machinery exports grew by 11.1 percent during the past eight months of the current year compared to the same period in 2022 and reached $18.6 billion.

Exports of the machinery manufacturing sector amounted to $18.6 billion within the first eight months of this year, according to a statement issued by the Machinery Exporters Union in Turkey.

According to the statement, the president of the union, Gutlu Karaavlioglu, said: “As we leave behind a quarter that witnessed the lowest growth rates in the world in recent years and a year in which global trade contracted rapidly, we can say that the 11.1 percent increase in our exports of machinery has sparked jealousy among our competitors.”

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He pointed out that while machinery production in developed countries declined in the first half, Turkey’s production increased by 9.7 percent.

He pointed to the increase in investments in machinery and equipment in Turkey, stressing that this increase is positive in terms of growth data.