AFTERMATH

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

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.