Turkey looks to raise manufacturing's share of GDP

Turkey looks to raise manufacturing's share of GDP

ANKARA-Anadolu Agency
Turkey looks to raise manufacturings share of GDP

Turkey is looking to significantly boost manufacturing's share of the nation’s GDP by 2023, the country's industry and technology minister said on Sept. 18. 

"We aim to raise the manufacturing industry's share of GDP to 21% in 2023, up from 16.5% over the last decade," Mustafa Varank told a news conference in the capital Ankara to announce Turkey’s industry and technology strategy for 2023.

Turkey aims for manufacturing industry exports to hit $210 billion by making the industry more innovative and advanced while raising the added value per worker to $35,000, Varank noted.

"As part of this, we hope to increase the share of medium- and high-tech products in manufacturing industry exports to 50%," he said.

The share of R&D expenditures in GDP is also aimed to reach 1.8%, said Varank.

"We will raise the human resources in this field [R&D] to 300,000 and the number of researchers to 200,000," he said.

Turkey hopes to boost annual investments in technology-based businesses to 5 billion Turkish liras ($880 million) by 2023, the nation’s centennial, Varank added.

"In the fields of disruptive technology, we aim our country to create at least 23 smart products that will become global brands," he said.