COMPANY NEWS: TURKISH MACHINERY The development of the Turkish mechanical engineering industry
As already pointed out, mechanical engineering is one of Turkey's most dynamic branches of industry and the next few years are anticipating and quality and export drive as part of the economic plan.
The Turkish mechanical engineering industry in figures - the sector of the Turkish economy that is experiencing constant growth
Production in the Turkish mechanical engineering industry has more than doubled over the last 10 years.
The Turkish mechanical engineering industry has increased its share in both the Turkish economy overall, as well as exports. The share in the mechanical engineering sector in total exports for Turkey is 9.3%, meaning it is the second strongest area. Turkey exports to more than 200 countries (including the free trade zone).
With an average annual growth rate of 15% over the last 5 years, the Turkish mechanical engineering industry has gone on to have the third largest rate of export growth in the world. Over the last 12 years, exports in the mechanical engineering sectors have increased by a factor of seven.
Around 60% of Turkish exports go to Europe and the USA.
Exports from the Turkish mechanical engineering industry, which, in 2005, were worth 5.2 billion dollars, were able to achieve a value of 13.4 billion dollars with the help of an average annual growth rate of 16% by 2015. The export growth rate in the mechanical engineering sector is subsequently higher the Turkey's total exports (8%).
Imports in mechanical engineering reached a value of 26.4 billion dollars in 2015 following an average annual growth rate of 10%.
In 2015, the mechanical engineering industry's share in total Turkish exports was at 9.3% and the share of imports had increased to 12.8%.
In the last ten years, the Turkish mechanical engineering industry has increased its exports two and a half fold and subsequently demonstrated its global competitiveness. This process began with the modernisation of the companies and continued with increased quality awareness and streamlined production processes. Despite this, people in Turkey are aware that requirements have now become higher and more demanding than ever before, in an ultra-modern and technological industry.
Aims of the industry
- Increase in exports, diversifying the groups of products in the sub-industries, global market leader for selected groups of products
- Increasing added value for production and exports
- Higher investments in technologies and new partnerships
- Highly qualified staff