Turkey’s policy to become the center of high-tech production and investments is bearing fruit.
According to data compiled from the Turkish Statistical Institute (TÜİK), high-tech product exports reached $641.9 million in the first month of the year, while this figure recorded $531.3 million in February.
High-tech product exports rose to $707.3 million in March and were $648.1 million in April.
This export category saw its highest level of the year in May, with exports amounting to $872.9 million. In June, high-tech product exports reached $732.1 million.
Thus, high-tech product exports for the first half of the year totaled $4.1 billion.
When examined by categories of high-tech product exports, three sectors stood out.
The largest export of high-tech products occurred in the “Manufacturing of Aircraft and Spacecraft” sector, with $1.4 billion. This was followed by “Manufacturing of Pharmaceutical Products and Herbal Products” at $1.2 billion and “Manufacturing of Measuring, Testing and Control Instruments and Devices” with $547 million in third place.
Motor Vehicles Lead in Medium-High Technology
The export of medium-high technology products, which showed an increase in the first quarter, displayed a fluctuating trend in the second quarter. Medium-high technology product exports were $6.8 billion in January, increased to $7.4 billion in February, and jumped to $7.9 billion in March.
In April, $6.6 billion worth of medium-high technology products were exported, while May saw the highest level of the year with $8.3 billion in exports. This export figure declined to $6.7 billion in June.
In the medium-high technology sector, $43.7 billion worth of products were exported in the first half of the year.
The sector contributing the most to this figure was the “Manufacturing of Motor Vehicles,” with $10.8 billion. It was followed by “Manufacturing of General Purpose Machinery” at $5.2 billion and some chemical products at $4.7 billion.
In total, $47.8 billion worth of high and medium-high technology product exports were conducted in the first half of the year, accounting for 40.2% of the manufacturing industry.
Source
Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
