Turkish contractors undertook $482 billion of work abroad

The Turkish contracting industry has implemented 11,768 projects worth $482 billion in 134 countries to date. Russia ranked first among the projects undertaken abroad.

According to the compilation made from the Ministry of Commerce data, the sector undertook 371 jobs worth $16.2 billion in 2020, despite the political instability in the target countries, cyclical problems and the effects of the Covid-19 outbreak.

In 2021, in parallel with the decrease in the negative impact of the epidemic on the world economy, the total cost of the projects undertaken by Turkish companies abroad increased to $30.7 billion. The number of projects undertaken during this period was recorded as 443.

The overseas contracting industry spent the last year under the shadow of global economic problems and the Russia-Ukraine War. In this period, the number of projects undertaken by the sector was 492, and the total project cost was $19.1 billion. The average cost of projects undertaken last year was calculated as $38.8 million.

The sector undertook 120 projects in the January-July period of this year. The cost of the projects undertaken during this period was recorded as $8 billion 933 million 299 thousand. The average cost of the projects undertaken in the first 7 months of the year was calculated as $74.4 million.

From 1972 until the end of July this year, the overseas contracting industry undertook 11,768 projects worth $482 billion in 134 countries.

Middle Eastern countries draw attention

Russia ranked first with a share of 20.3% in the distribution of projects undertaken abroad by contracting companies since 1972, by country. To date, $97.9 billion of projects have been implemented in the said country.

Turkmenistan followed Russia with a share of 10.6% , while the amount of projects undertaken was $50.8 billion. Iraq ranked third with a 6.9% share and $33.2 billion of projects undertaken. These countries were followed by Libya with a project of $30.2 billion and Kazakhstan with a project of $27.9 billion.

The Saudi Arabian market, which the sector focuses on to get more shares, also stood out with a 5.2% share and a project cost of $25.1 billion. During this period, a project worth $19.9 billion was undertaken in Qatar and $12.5 billion in the United Arab Emirates.

Turkish contractors have realized $34.7 billion of trade center and $30.7 billion of airport projects abroad so far.

Awards will be given

On the other hand, Turkiye ranks second in the “World’s Top 250 International Contracting Firms List” announced by the international industry magazine Engineering News Record (ENR).

The Turkish Contractors Association (TMB) will organize the “Overseas Contracting Services Awards Ceremony” on Tuesday, August 22.

At the ceremony where President Recep Tayyip Erdogan and Minister of Commerce Omer Bolat are expected to attend, Turkish contracting companies that are included in the list will be given their awards.

Source: Trthaber / Prepared by Irem Yildiz

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