Turkish firms sell $368 bln industrial products in 2017

Turkish firms sell $368 bln industrial products in 2017

Turkish firms sell $368 bln industrial products in 2017

Turkey’s enterprises sold industrial products -domestic or abroad- worth 1.34 trillion Turkish liras ($367.9 billion) in 2017, an official data revealed on Dec. 24.

In 2016, the figure was 1.04 trillion Turkish liras ($344.8 billion), while it was 956.5 million Turkish liras ($351.6 billion) in 2015, the Turkish Statistical Institute (TÜİK) said.

Meanwhile, the value of total production -regardless of sold, kept as stocks or further processed- was 1.5 trillion Turkish liras ($410.1 billion) in Turkey in 2017.

Last year, manufacturing of food products took the biggest share in the total sold production with 13.8 percent.

Basic metal products (12.2 percent), manufacturing of motor vehicles, trailers and semi-trailers (10.1 percent) and manufacturing of textile (8.1 percent) followed it.

In 2017, 1.55 million automobiles and 191 million tons of ready-mixed concrete were produced in the country, according to official figures.

In Turkey, over 743,500 tons of margarine and similar edible fats, 8.8 million domestic refrigerators and freezers were also manufactured in 2017.

Among all products, the share of high technology products was 3.2 percent in 2017, while medium-high technology got 26 percent share.

Low technology products took 36 percent share and medium-low products had 34.8 percent share last the year.

“Industrial products were classified by main industrial grouping, intermediate goods were 46.7 percent, consumer non-durables were 24.1 percent and energy were 5 percent, as a share of 2017 total sold production,” according to TÜİK.

“Annual industrial production (Prodcom) statistics exhibit the value and volume of goods and a small number of industrial services produced by industrial sectors (manufacturing industry and mining & quarrying) in Turkey on an annual basis.”

Turkish economy,