Turkish contractors’ international projects reach $17.6B in 10 months

By Mert Davut

ANKARA (AA) — Turkish contractors have secured $17.6 billion in international projects in the first 10 months of the year, according to Ministry of Trade data compiled by Anadolu.

Despite challenges like the pandemic and the Russia-Ukraine war, Turkish contractors continue to thrive. In 2019, they completed 544 projects worth $19.9 billion, though numbers dropped to 386 projects valued at $16.9 billion in 2020 due to pandemic impacts.

With pandemic effects receding, international project values rebounded to $31.5 billion across 457 projects in 2021, marking the sector’s busiest year since 2012.

Despite the Ukraine conflict, 507 projects worth $20 billion were completed in 2022, followed by 436 projects worth $28.3 billion in the previous year.

This year, from January through October, Turkish contractors undertook 179 international projects valued at $17.6 billion.

The average value of international projects has also increased significantly, from $39.4 million in 2022 to $98.3 million in the first 10 months of 2024.

Since 1972, Turkish contractors have completed 12,317 international projects worth $522.1 billion in 137 countries. Russia remains the top destination, accounting for 19.6% ($102.4 billion), followed by Turkmenistan at 10.3% ($53.5 billion) and Iraq at 6.7% ($35 billion).

Turkish contractors have worked on a wide range of projects since 1972, including highways, tunnels, bridges, housing, power plants, trade centers, and airport investments. Highways, tunnels, and bridges account for 13.9% of total projects, followed by housing 13.7%, power plants 8.5%, trade centers 7%, and airports 6.6%.

*Writing by Emir Yildirim in Istanbul