Construction Turkish contractors bag $7.6bn worth of overseas projects By Pramod Kumar July 5, 2024, 5:09 AM 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. NewsletterGet the Best of AGBI delivered straight to your inbox every week 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. Turkey holds interest rate at 50% despite inflation risks Turkish manufacturers struggle to regain momentum UAE to invest in Turkey’s economic sectors says minister 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.
