Turkish contractors have been awarded a total of 258 projects abroad worth $9.8 billion in the first 11 months of 2022, data from the Trade Industry have shown.
The average size of the projects awarded to Turkish companies in foreign countries this year was $38 million, according to the ministry.
Between 1972 and November 2022, Turkish contractors have undertaken more than 11,405 projects in 132 countries, with a total worth of $463.3 billion.
The $10 billion mark was surpassed in 2005 for the first time,and in 2015, the value of contracts Turkish companies were awarded reached an all-time high of $83.4 billion with 285 projects.
In 2021, the value of 430 projects abroad amounted to $30.5 billion, up from the previous year’s 364 projects with a combined worth of $16.2 billion.
Over the past four decades, Russia has been the largest market for Turkish contractors.
Local construction companies have undertaken $95.6 billion worth of projects in Russia between 1972 and July 2022, accounting for 20.6 percent of all projects undertaken abroad.
Turkmenistan came second at $50 billion, followed by Iraq at $32.1 billion. In Libya, Turkish companies have been awarded $29.4 billion worth of projects.
Kazakhstan, $27 billion, and Saudi Arabia, $24.3 billion, were other major markets for Turkish contractors.
Housing projects were the main field of business, accounting for 14 percent – or $64.5 billion – of all projects Turkish companies assumed since 1972. Last year, power plant projects topped the list at $7.95 billion or 26 percent shares in total, while railroad projects ranked second at $4.5 billion, followed by highway/tunnel/bridge construction at $4.38 billion.
This year 42 Turkish companies made it to the ENR’s top 250 international contractors list, up from 40 firms in the previous year.