June 29, 2022
At the end of the first 5 months of the year, Türkiye’s machinery exports increased by 8.3 percent compared to the same period of the previous year and reached 10.1 billion dollars. The countries to which Türkiye exports the most in the EU in May were Germany, Italy and France, respectively. The EU started to have a foreign trade deficit due to the rapid increase in the cost of imported energy products, and the machinery imports from Türkiye fell for the first time in May since the first period of the pandemic.
The growth in machinery and equipment investments, which started in the fourth quarter of 2019, has continued for 10 quarters. The increase in the production of machinery and equipment has reached 7 quarters. In the last 2 years, both manufacturing investments and machinery production have increased by more than 50 percent. Thanks to the high added value and low import dependency in machinery manufacturing, the increase in the producer price index in the sector is 71 percent, well behind the general manufacturing industry average index, which reaches 132 percent.
Source: Machinery Exporters’ Association of Türkiye
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