Turkey ranks 29th in machinery exports
Istanbul, Turkey | August 10, 2007 by
Turkey's machinery industry increased its exports by 30 percent last year, moving up to the world's 29th biggest exporter of machinery.
The Turkish machinery industry's returns on its exports increased fourfold in the last five years and hit $6.9 billion, while it was only $1.8 billion in 2001. According to the Central Anatolian Exporters' Union's Turkish machinery industry report, machinery exports grew faster than Turkey 's total exports. The report said the machinery industry was manufacturing various high-quality spare parts at competitive prices, and the domestic input rate hit 80 to 85 percent in the production process. Germany, the US , China, Japan and Italy are the leading machinery suppliers, and these five countries control 51 percent of the world machinery market. The highest increase in exports in recent years has come from China. The report said machinery production was shifting to the Czech Republic, Poland , Slovakia and Hungary due to low costs and that these countries had become important players in the global machinery industry.
Development on machinery sector was among topic discussed during Working Group on Industry in Kuala Lumpur, Malaysia, last May 2007. D-8 Secretariat expects the detail of cooperation of automotive industry within the member states will be further discussed in the next WG on Industry in Indonesia.
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