Assets of companies in the information and communication sector increased 5 times in Turkiye

Companies that have accelerated their technology investments in Turkiye in recent years have increased their R&D expenditures by 25 times and their asset size by 5 times in 10 years.

According to the information compiled from the results of the “Sector Balance Sheets 2022” research conducted in cooperation with the Turkish Statistical Institute and the Central Bank of the Republic of Turkiye, the total assets of companies in the information and communication sector continued their increasing trend in the 2013-2022 period.

While the total assets of the companies were ₺115 billion 381 million in 2013, this figure reached ₺167 billion 602 million in 2016, ₺234 billion 412 million in 2019 and ₺596 billion 68 million in 2022.

Thus, the assets of the companies in question increased by approximately 417% in the 10-year period and increased 5 times.

R&D expenditures increased 25 times

In the information and communication sector, spending on R&D investments increased significantly in the said period. These expenditures, which were at the level of ₺898 million in 2013, increased approximately 25 times to ₺22 billion 595 million by the end of last year.

On the other hand, the gross sales of companies increased from ₺66 billion 597 million to ₺471 billion 227 million in this period. Domestic sales by companies increased from ₺62 billion 465 million to ₺387 billion 924 million, and foreign sales increased from ₺3 billion 343 million to ₺75 billion 75 million.

In addition, the “other income” item under gross sales increased from ₺788 million 543 to ₺8 billion 228 million in the same period.

Source: Trthaber / Prepared by Irem Yildiz

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