Defense exports up 29 percent to $2.98 billion in January-May

ISTANBUL

The Turkish defense and aerospace industry’s exports amounted to $2.98 billion in January-May, exhibiting an annual increase of 28.9 percent.

The local defense industry accounted for 3 percent of Türkiye’s exports in the first five months of the year, when the country’s export revenues rose by 3.5 percent year-on-year to $111 billion.

“As the number of exporting companies continues to increase day by day, our product composition is also evolving in favor of high-tech products,” said Haluk Görgün, head of the Defense Industry Presidency (SSB), commenting on the latest numbers.

“Thanks to the uninterrupted international cooperation activities we have been carrying out as SSB, our companies are now able to export not only to certain regions but all around the world,” he added.

In the upcoming period, SSB will resolutely continue its international activities that embrace both large-scale companies and SMEs, Görgün said.

The local defense industry’s exports, which were only $248 million in 2002, hit an all-time high of $7.2 billion last year.

The Turkish defense industry is the 11th largest exporter in the world, with 75 percent of the systems it produces used by NATO forces, including the Turkish Armed Forces, Görgün said in an interview last week.

Of last year’s exports, 55.4 percent was delivered to NATO allies and Ukraine, according to Görgün.

Meanwhile, Türkiye and Finland signed a Defense Industry Cooperation memorandum of understanding on June 2.

The agreement opens the door to a new era in the areas of joint production, technology sharing and capability development between the two NATO allies, the SSB said.