Companies mull over making more investments in white goods sector

Companies mull over making more investments in white goods sector

Companies mull over making more investments in white goods sector

Companies are planning to make more investments in Türkiye’s white goods manufacturing industry, says Gökhan Sığın, the CEO of BSH Türkiye and president of the White Goods Manufacturers’ Association of Türkiye (TÜRSKBED).

“Companies, which are currently operating in the sector, are working to increase their capacity, while new investors are mulling over making investments. Most of those companies aim to export their products.” Sığın said, speaking at the Uludağ Economy Summit over the weekend.

Türkiye accounts for 7 percent of global white goods production, which makes the country the second largest producer in the world after China, Sığın said, adding that the white goods industry is one of the main engines of the Turkish economy.
The white goods industry’s annual export revenue is $4.5 billion, according to Sığın.

Türkiye attracts new investments thanks to its geographical location and strong human resources, he said. “Local market is large, but those investments still target foreign markets, which is an indication of the trust in our country and our quality.”

Türkiye is an important country in the global manufacturing sector, having made significant progress over the past 100 years, Sığın said. “The country’s industry has consistently improved production power, infrastructure and competitiveness, boosting its technology capacity. We have very competitive industries besides white goods, such as textile, automotive, chemicals and food.”

The white goods manufacturing industry’s production declined by 5.2 percent in February after rising by 2.6 percent in the previous month.

Sales were up 12.6 percent compared with February 2022, which followed the 27 percent year-on-year increase in sales in January.

The industry exported some 75 percent of its all output. The unfavorable conditions in global markets continued to weigh on the industry’s exports.

In February, exports declined 13.3 percent from a year ago, after contracting 10.3 percent in the previous month.

BSH’s Türkiye operations

Sığın also said that BSH has been operating in Türkiye for 28 years, creating jobs for around 9,000 people.

The annual production capacity of the company’s Çerkezköy plant is 7 million units, according to Sığın.

“More than half of the goods manufactured at the Çerkezköy plant are exported to over 90 countries.”

BSH Türkiye received the R&D Center certificate in 2008, he noted. “In 2022 alone, we filed applications for 63 patents and utility model registration,” Sığın sai