Defense, aerospace sector exports grow by 17 pecent

Dunya Executive - - BUSINESS -

Turkey’s aerospace and defense industry exports surged 17 percent year-on-year in 2018.

According to data compiled from the Turkish Exporters Assembly by Anadolu Agency, the sector’s exports surpassed the target of $2 billion last year, hitting a record high level of $2.035 billion.

The defense and aerospace industry showed the best performance in terms of growing exports among all sectors in 2018.

The U.S. was the top export market for the aviation and defense industry with $726.7 million, up five percent from a year earlier. It was followed by Germany with exports worth of $226.1 million, rising 8 percent compared to 2017.

Turkish exports to Oman in the defense and aviation industry posted the most significant increase at 1,046 percent during the same period and $153.4 million worth of export delivered to the country. Turkey’s exports hit an all-time high with $168.1 billion last year, the country’s trade minister announced on January 4. Ruhsar Pekcan stated that exports in 2018 climbed 7.1 percent year-onyear, compared to nearly $157 billion the previous year.

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