Machinery

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The machinery industry in Turkey has been growing at a rate of nearly 20 percent per year since 1990, and 30 percent per year since 2009. The growth of the Turkish machinery sector is backed by highly competitive and adaptable small and medium-sized businesses (SMEs), which form the bulk of the industrial production in the country and account for 50 percent of machinery production.

As the drivers of growth in machinery and major contributors to the industrialization of the country, Turkish SMEs distinguish themselves from their peers in other countries by their utilization of the low-cost and highly skilled work force Turkey offers. With domestic inputs accounting for approximately 85 percent of all inputs at the production stage, and over 450,000 engineering graduates every year, the sector is dynamic and flexible.

The combined advantage of the engineering capability required to compete in the international market with reasonable labor costs enable the Turkish machinery industry to offer a range of products and components that are both high-quality and affordable. This is evident in the fact that R&D spending on machinery manufacturing has increased 33 percent between 2010-2012, outpacing the R&D spending on manufacturing in general (24 percent) and on overall activities (19 percent) in Turkey.

The Turkish machinery sector therefore presents strong opportunities for investors with competitive input costs in labor, energy and logistics, and strong enablers including R&D readiness, skilled labor, IP protection, targeted incentive programs and an extensive supply basis with several regional clusters.

The machinery production of Turkey has also started to take up an increasing portion of the country’s exports, and accounted for 14 percent of total exports with USD 22.5 billion in 2013. The major export destinations of Turkish machinery products include Germany, the UK, Iraq and France. Meanwhile, Turkey imports machinery products mostly from China, Germany, Italy, South Korea and France. Despite robust domestic production of machinery, the imports of machinery with USD 47.9 billion in 2013 are more than twice that of exports, indicating the increasing domestic demand for machinery.

Turkey’s machinery industry has been given ambitious export targets for the country’s 100th anniversary in 2023. To reach USD 100 billion of exports with a share of 2.3 percent of the global market, the Turkish machinery industry is projected to have a CAGR of 17.8 percent until 2023. By that time, the sector’s share of Turkey’s exports is expected to be no less than 18 percent.

With a 64 percent growth in machinery manufacturing FDI inflow since 2005, the sector has also been a growth driver for overall manufacturing FDI; the drive is expected to continue as machinery FDI is still a small percentage of the whole, representing 15 percent of manufacturing FDI in 2011.

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