Business

Turkish machinery exports up 23.3% in 2021

Sector targets $27B level for 2022 in exports

Turkiye’s machinery sector exports totaled $23 billion in 2021, up by 23.3% versus 2020, according to the Machinery Exporters’ Association (MAIB) on Wednesday.

The sector’s exports also rose by 18.3% versus 2019 -the pre-pandemic period MAIB added.

The volume of orders shows that the Turkish machinery sector’s market share in the EU and US will continue to expand, Kutlu Karavelioglu, the head of the association, noted.

The sector could easily exceed the $2-billion level in monthly exports, he said, adding that it can target the $27-billion level for 2022.

As one of the sectors exceeding the $20-billion level in exports, the machinery sector’s exports to both Germany and the US surpassed $4 billion, each, while it reached the $1-billion level to major European countries such as the UK, Italy, and France.

Source
AA

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