Machinery exports in 2018 reach $7B

Machinery exports in 2018 reach $7B

Machinery represents over 10 pct of total exports

World Bulletin / News Desk

Turkey’s machinery exports reached $7 billion in the first five months of 2018, an association said on Tuesday.

Machinery exports jumped by 24 percent compared to the same period last year, the Machinery Exporters’ Association (MAIB) said in a press release.

“With the resumption of new projects and investments all around the world, the demand for machines is increasing, especially we are receiving many new orders from European countries,” Kutlu Karavelioglu, chairman of the MAIB, said.

He added that exports to Germany had already climbed over $1 billion.

The MAIB said the machinery exports’ unit price also rose by around 10 percent, from $5.9 to $6.4 per kilogram, during the January-to-May period.

Within the scope of the machinery exports, engine and engine part exports ranked first with over $1 billion, followed by air conditioner and refrigerating machine exports with nearly $1 billion.

The share of machinery in the country’s total exports in the five-month period amounted to 10.3 percent.

Turkey made $69 billion in exports during the first five months of 2018, according to the Turkish Exporters’ Association.

“With all our sub-sectors, we will reach the $18-billion machinery export target at the end of the year,” Karavelioglu underlined.

WhatsApp chat