AFTERMATH

TURKEY SOLD $367.9 BILLION IN PRODUCTS, A MAJORITY LOW-TECH, IN 2017

Dünya Executive - - OVERVIEW -

Turkish businesses sold industrial products - domestic or abroad - worth TRY 1.34 trillion ($367.9 billion) in 2017, official data revealed on December 24.

In 2016, the figure was TRY 1.04 trillion ($344.8 billion) while it was TRY 956.5 million ($351.6 billion) in 2015, the Turkish Statistica­l Institute (TurkStat) said.

Meanwhile, the value of total production - regardless of products sold - kept as stocks or further processed was TRY 1.5 trillion ($410.1 billion) in Turkey in 2017. Food products took the biggest share.

Last year, manufactur­ing of food products took the biggest share in total sold production at 13.8 percent. Basic metal products (12.2 percent), manufactur­ing of motor vehicles, trailers and semi-trailers (10.1 percent) and textiles (8.1 percent) followed.

In 2017, 1.55 million automobile­s and 191 million tonnes of ready-mixed concrete were produced in the country, according to official figures.

In Turkey, over 743,500 tonnes of margarine and similar edible fats and 8.8 million domestic refrigerat­ors and freezers were also manufactur­ed in 2017.

Low-tech products dominate

Among all products, the share of high-tech was

3.2 percent in 2017 while medium-high-tech was 26 percent. Low-tech products took 36 percent and medium-low products accounted for 34.8 percent.

“Industrial products were classified by main industrial groupings. Intermedia­te goods were 46.7 percent, consumer non-durables were 24.1 percent and energy were five percent as a share of 2017 total sold production,” according to TurkStat.

“Annual industrial production (Prodcom) statistics show the value and volume of goods and a small number of industrial services produced by industrial sectors (manufactur­ing industry and mining and quarrying) in Turkey on an annual basis.”

TurkStat will release the next relevant bulletin, which will cover 2018, in December 2019.

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