Turkish contractors secure $2.3 billion in overseas projects in first five months

ANKARA

Turkish contractors undertook 40 projects worth $2.3 billion across 15 countries in the first five months of this year, according to data from the Trade Ministry.
The Turkish contracting sector remains among the top 10 countries globally in terms of international contracting revenues.

In 2020, the sector carried out 386 projects abroad with a total value of around $18 billion. This figure rose significantly in 2021, when Turkish firms secured 463 projects worth $32 billion, marking the highest annual project value on record.

The total value of overseas projects declined to $20.1 billion in 2022 due to the impact of the COVID-19 pandemic, although the number of projects increased to 513. In 2023, the sector recovered, with project totals reaching $28.8 billion across 449 projects. Despite global economic challenges and the effects of the Russia-Ukraine war, Turkish contractors secured projects worth $29.9 billion in 2024, completing 386 deals.

Last year, the number of projects fell to 309, with a total value of $22.5 billion.

Since 1972, Turkish contractors have completed 12,901 projects in 138 countries, with a cumulative value of $562.6 billion.

Regionally, the Commonwealth of Independent States (CIS) accounts for the largest share at 42.7 percent, followed by the Middle East with 25.4 percent and Africa with 18.1 percent. Europe and Asia account for 10.4 percent and 2.6 percent, respectively.

The largest share of projects has been in roads, tunnels and bridges. This is followed by housing and residential developments, power plants, railway projects and commercial centers.