Business

Turkish ship and yacht sector exported $ 1 billion in Jan-Nov period

While the ship and yacht sector again took the lead among 27 sectors with an export increase of 27.5 percent in the 11 months of this year, Istanbul led the exports of the sector, which delivered its products to 142 points.

According to the data of Turkey Exporters Assembly (TIM), exports of the ship and yacht sector, which were $ 931 million 165 thousand in the January-November period of 2019, reached $ 1 billion 187 million in the same period of 2020.

The sector, which increased it’s exports by 27.5 percent during the period Jan-Nov period, left behind many sectors that are considered as the locomotive with this rate and maintained its top place. Another noteworthy factor was the fact that the sector made exports to a total of 142 points consisting of countries and free zones in the 11 months of the year.

Istanbul realized $ 736 million 415 thousand of the total exports of the ship and yacht industry in 32 Turkish provinces in this period. This figure corresponded to 62 percent of the total exports of the sector. Following Istanbul, the other cities with the highest exports of ships and yachts were Yalova with $ 341 million 859 thousand, Izmir with $ 38 million 534 thousand, and Bursa with $ 27 million 754 thousand.

Most exports were made to Marshall Islands

The country to which the ship and yacht industry exported the most in 11 months of the year was Marshall Islands. While $ 229 million 70 thousand of exports were made to the Marshall Islands, the country met the 19.3 percent of the total exports.

The Marshall Islands were followed by Norway with $ 228 million 441 thousand, Russia with $ 139 million 912 thousand, Malta with $ 82 million 587 thousand, and Luxembourg with $ 50 million 893 thousand.

Considering the change in the sector’s export volume by country on a quantity basis, the highest increase in exports was realized in the January-November period with $ 159 million 532 thousand dollars to Marshall Islands.

‘’ We exported $ 714.2 million of ships.’’

When the sub-items of the ship and yacht sector are analysed, it is seen that the biggest contribution to the exports of the sector in 11 months of the year was seen by the ship with $ 714.2 million, followed by yachts, boats and boats with $141.4 million. During this period, exports of tugboats was valued at $ 136 million, while ferries $ 102 million, marine tankers $ 39.7 million; ship sub-industry exports were valued at $ 34.6 million. In 11 months of the year, exports of other vessels, which are not included in these classifications, were worth $ 18.9 million.

Cem Seven, President of the Union of Ship, Yacht and Services Exporters, who made evaluations on the subject, expressed his happiness for being the sector that increased its exports the most in November in the export of ship yachts and equipment’s that contain high technology and innovative elements.

Seven expressed that Turkish shipyards continue exporting successfully by managing timely deliveries despite the restrictions brought by the new type of coronavirus epidemic that affects the world, he said:

‘’ At the beginning of November, our industry managed to surpass 2019 export figures. We anticipate that we will complete 2020 as the sector with the highest increase in exports if there is no big change in December. ‘’

Seven pointed out that Turkey is rapidly moving towards becoming one of the 5 most talented countries in the world to produce special purpose and custom-made ships and yachts. He said:

‘’ This situation makes Turkish shipyards attractive for new ship and yacht building orders. Another factor that causes an increase in exports is the timely delivery of the ordered works. Timely deliveries contribute to both new orders and increase in export figures. Namely, although there have been delays and disruptions in the production process and delivery issues in many sectors around the world due to the epidemic, our companies operating in our sector have completed the construction and delivery processes of the ships and yachts they plan to deliver in 2020. ‘’

source: AA / translated by Melisa Karayusufoglu

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