Over 4 trillion Turkish Liras invested in tangible assets
ANKARA
Gross investment expenditures on tangible assets amounted to 4.19 trillion Turkish Liras in 2023, official data has shown.
Of this amount, 1.33 trillion liras were spent by enterprises operating in the manufacturing sector, and 602 billion liras by those in the wholesale and retail trade sector, said the Turkish Statistical Institute (TÜİK).
The transportation and storage sector invested 543 billion liras.
Some 2.2 trillion liras of those investments on tangible assets went to machinery and equipment, while another 1.3 trillion liras were invested on buildings and structures.
The share of machinery and equipment in total gross investment expenditures on tangible assets increased from 51.9 percent in 2022 to 52.6 percent in 2023.
The share of buildings and structure investments was 30.7 percent, ranking second.
Gross investments expenditures on major renovations of constructions and buildings amounted to 361 billion liras and 323 billion liras were spent on land and 17 billion liras on other tangible assets in 2023, according to TÜİK.
In 2022, gross investment expenditures on tangible assets were 2.35 trillion liras.
The investment in tangible assets/turnover ratio was 7.1 percent in 2023, up from 6.4 percent in the previous year, showed TÜİK data.
