Türkiye unveils mechanical engineering product export volume in H1 2024

The Machinery Exporters' Association (Turkish Machinery) has stated that mechanical engineering product exports totaled $13.5 billion in the first half of 2024.

Exports to major European markets such as Germany, Italy, the UK, France, and Spain fell by 6.6 per cent to 17.9 per cent due to a slowdown in Europe's manufacturing sector and reduced investor demand, Caliber.Az reports citing the Turkish media.

Despite these declines in European markets, which included a four per cent drop in shipments to the EU and a 17 per cent drop to other European countries due to the effects of anti-Russian sanctions, there were notable increases in exports to other regions: a 24 per cent rise to North America, an 11 per cent increase to Latin America, and a 14 per cent boost to Asia.

Turkish mechanical engineering product exports are a significant component of Türkiye's overall export economy, reflecting the country's growing capabilities in manufacturing and engineering.

Mechanical engineering products include machinery, equipment, and components used across various industries such as automotive, construction, agriculture, and energy. These exports are vital for Türkiye's economy, contributing substantially to its foreign trade balance.

Türkiye has been expanding its mechanical engineering exports over the years. The country has made considerable investments in improving the quality and technology of its machinery, which has helped it gain a foothold in international markets.