Ship and yacht exports climb 79 percent in first quarter

ISTANBUL

Türkiye’s ship, yacht and related services sector recorded a strong surge in the first quarter of 2026, with exports climbing 78.6 percent compared to the same period a year earlier.

According to figures from the Türkiye Exporters Assembly (TİM), the industry’s sales rose from $327.6 million to $585 million.

Norway emerged as the leading destination, with exports at $183.6 million. Malta followed with $77.4 million, while the U.K. and France each accounted for $68 million. Exports to the United Arab Emirates amounted to $34.1 million. Other prominent markets included the Marshall Islands, Panama, Tunisia, Greece and Singapore.

Cem Seven, Chairman of the Ship, Yacht and Services Exporters’ Association (GYHİB), explained that the sharp rise was not only driven by demand but also by delivery schedule adjustments. Several ships and yachts originally slated for December 2025 were delivered in January and February, boosting first-quarter figures, he said, noting that such shifts are common in the industry.

On the global stage, ship and yacht exports reached between $120 billion and $140 billion, according to Seven. China led the market in 2025 with $63 billion, followed by South Korea at around $30 billion and Japan in third place. Türkiye ranked 12th with an export volume of $1.9–2.2 billion, with final figures expected to be confirmed during the summer, said Seven.

Seven emphasized that Turkish shipyards are increasingly favored by Northern European buyers. He highlighted that vessels are built in line with international standards, offering not only quality and sustainability but also superior performance compared to many foreign competitors. This reputation, he said, is a key factor behind Türkiye’s growing presence in global shipbuilding.