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Türkiye’s industrial sector has achieved its highest-ever first-nine-month exports, totaling $143.2 billion, according to official data.
The momentum has been backed by the five-point corporate tax exemption granted to exporters, along with employment support of TL 2,500 ($59.5) per worker.
Global agreements and sectoral trade meetings also contributed to the rise in exports.
Türkiye’s total exports climbed 4.1% to $200.6 billion in the first nine months of the year, the Türkiye Exporters Assembly (TIM) showed. Industrial exports surged 5.7% accounting for 71.4% of total exports.
Six of the 15 industrial sub-sectors broke export records during this period.
The automotive industry’s exports reached $30.2 billion, followed by electrical and electronics with $12.9 billion, jewelry with $6.2 billion, defense and aerospace with $6 billion, air conditioning with $5.4 billion and ships, yachts and related services with $1.5 billion.
In terms of growth rates, defense and aerospace exports surged 39.3%, jewelry 14.3%, automotive 12.3%, ships, yachts and services 8.7%, electrical and electronics 5.7%, and air conditioning 3.2%.
Germany was the top destination for Turkish automotive exports at $4.9 billion, which also imported $571.7 million in air conditioning products.
Norway received $264.6 million in shipbuilding and services exports, the U.K. imported $1.3 billion in electrical and electronic goods, and the United Arab Emirates (UAE) purchased $2.3 billion in Turkish jewelry.
Ibrahim Ünalmış, director of the financial research center at Istanbul Bahçeşehir University, said some 70% of the sectors within the Turkish industrial business increased exports during the period.
Ünalmış added that sectors with higher added value were able to boost their exports, while more labor-intensive ones saw their exports decline.
