Turkey's industry adds nearly $250 billion in annual value, minister says
Turkey's industry and technology minister Mehmet Fatih Kacir said domestic industry's annual value-added has approached 250 billion dollars. He added that the country's share in medium-high and high-technology exports continues to rise.
Industry and Technology Minister Mehmet Fatih Kacir spoke at an evaluation meeting on the implementation of national industry policy. He said incentive and transformation programmes rolled out in recent years had pushed the annual value-added of Turkish industry close to the 250-billion-dollar mark.
Kacir said productivity was rising in lead sectors such as automotive, defence, white goods and electronics, and that the share of high-tech goods in total manufacturing exports was approaching 5 percent. New planned investments in semiconductor and battery supply chains, he said, would come on stream over the next three years.
Business associations called the figures a strong sign of progress, but warned that high financing costs risk slowing fresh manufacturing capital expenditure. They argued that the central bank's clarity on the rate path at its next monetary policy committee meeting will be critical for the capex plans of industrial companies.
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