The amount of projects carried out by the Turkish contracting industry abroad in the January-May period was 6.5 billion USD.

According to the compilation made from data from the Ministry of Commerce, from 1972 to the end of May, the foreign contracting sector undertook 11,745 projects worth 479.5 billion dollars in 133 countries.

Despite severe political instability, cyclical issues and the effects of the Covid-19 outbreak in target countries in 2020, the sector received 371 jobs worth $16.2 billion.

In 2021, in parallel with the decline in the negative impact of the epidemic on the global economy, the total cost of projects undertaken by Turkish companies abroad increased to $30.7 billion.

The number of projects carried out during this period was recorded at 443.

96 PROJECTS CARRIED OUT

The overseas contracting industry has spent the past year in the shadow of global economic woes and the Russia-Ukraine War.

In this period, the number of projects carried out by the sector was 492, and the total cost of the project was 19.1 billion dollars. The average cost of projects undertaken last year was estimated at $38.8 million.

The sector undertook 96 projects in the January-May period of this year. The cost of the projects carried out during this period was recorded at 6 thousand 459 million 199 thousand dollars.

The average cost of the projects carried out in the first 5 months of the year was calculated at 67.2 million dollars.

RUSSIA AND TURKMENISTAN ARE IN FIRST RANK

Russia ranked first with a 20.4 percent share in the distribution of projects carried out abroad by contractor companies since 1972, by country.

To date, 97.9 billion dollars in projects have been executed in the country in question.

Turkmenistan followed Russia with a 10.6 percent share. The amount of the projects carried out in this country amounted to 50,800 million dollars. Iraq ranked third with a 6.9 percent share and $33.1 billion in completed projects. These countries were followed by Libya and Kazakhstan.

The Saudi Arabian market, which the contracting industry is targeting for more shares, also stood out with a 5.2 percent share and a project cost of $24.9 billion.

MOST HOUSING AND ROAD-BRIDGE PROJECT

When looking at the areas where the most projects have been carried out to date, it was observed that housing projects ranked first with a share of 13.9%. The cost of these projects was 66.6 billion dollars.

Housing projects were followed by highways, tunnels and bridges with a 13.5% share and a project value of $64.7 billion.

The energy sector ranked third among the works carried out abroad with a share of 8.5 percent. The amount of projects carried out by this sector to date has exceeded 40,500 million dollars.

Turkish contractors have so far undertaken $34.7 billion in shopping center projects and $30.7 billion in airport projects abroad. (AA)