Skip to content Skip to Search
Skip navigation

Turkish contractors bag $7.6bn worth of overseas projects

The average value of Turkish contractors' projects increased to $92.3 million in the first half of 2024, up from $65 million in 2023 Shutterstock/Bell Ka Pang
The average value of Turkish contractors' projects increased to $92.3 million in the first half of 2024, up from $65 million in 2023

Turkish contractors have started work on overseas projects valued at $7.6 billion in the first half of 2024, according to official data.

The number of projects reached 82 in the January-June period, state-run Anadolu Agency said, quoting trade ministry data.

The average project value increased to $92 million in the first half of 2024, up from $65 million in 2023 and $39 million in 2022.



No country specific details were given for the six-month period.

Since 1972, the Turkish contracting sector has completed 12,207 projects worth $511 billion in 137 countries.

Russia ranked first in project distribution country-wise, with a 20 percent share, amounting to $102 billion.

Turkmenistan followed with a 10.5 percent share, equivalent to $53 billion.

Iraq ranked third with a 6.8 percent share, translating to $35 billion in projects.

Libya and Kazakhstan followed with $31 billion and $29 billion worth of projects, respectively, the report said.

Latest articles

GCC UK tax. The Labour government under new prime minister Keir Starmer may merge capital gains tax with income tax Video length: 04:06

GCC investors in UK warned of new tax liabilities

The newly elected Labour government is expected to introduce a range of tax changes that will impact non-doms – British expatriates living overseas – as well as the UK’s community of wealthy foreign investors.  Tax consultants suggest that GCC investors considering selling their UK assets should do it “sooner rather than later” to escape the […]

Iraqi Airways is seeking to expand its international reach. The airline has been working to modernise its fleet and improve its service standards,

Iraq given boost in plan to lift European flight ban

Iraq has moved a step closer to returning its flag carrier to European skies after receiving the support of the International Air Transport Association (IATA). Iraqi Airways was originally banned from Europe in 1991 due to safety concerns. Restrictions were briefly lifted in 2009 but enforced again in 2015 as the airline failed to meet […]

In a concession to the electorate, the legislation before parliament proposes a 25 percent increase in the payment to pensioners on the lowest rate of support

Turkey targets business with steep taxes to raise revenue

Multinational corporations operating in Turkey face a steep increase in their tax bills, thanks to one of the new revenue-raising measures outlined by the government in draft legislation aimed at narrowing the budget deficit. Under the new tax reforms, tabled before the parliament on July 16, multinationals with more than $817.6 million in annual consolidated […]

Saudi growth forecast

IMF lowers Saudi growth forecast over oil output cuts

The International Monetary Fund has lowered its forecast for economic growth in Saudi Arabia by almost an entire percentage point, as cuts in oil production continue to weigh heavily on the kingdom’s economy.  In its World Economic Outlook Update, the IMF reduced its forecast for Saudi GDP growth to 1.7 percent for this year, down […]