Overseas Turkish construction hits $31.3bn in 2013
Economy Minister reveals $5.2bn increase from 2012
The total value of overseas projects secured by the Turkish construction industry in 2013 was $31.3bn.
The figure represented a $5.2bn increase in comparison to 2012 ($26.1bn), Economy Minister Nihat Zeybekçi revealed in a written statement on Wednesday.
The dramatic rise in overseas contracting projects, which stood at $1bn in 2000, was boosted by building on improved political relations, particularly in the Middle East and Africa, along with the Turkic republics.
Turkish contractors secured 374 projects in 45 countries last year, helping the industry break through the $31.3bn barrier for the first time in the country's history.
Zeybekçi said: "This is a record level and a historic success; we also secured construction projects in South Sudan and Senegal for the first time last year."
Turkmenistan and Russia are the countries where contractors won most projects. In terms of project size by country, Turkmenistan tops the list with $10.5bn, while the size of projects in Russia, which comes in second place, was $5.6bn. Azerbaijan came in third on the list with $2.8bn and Iraq was fourth, $2.1bn. The final country making up the top five was Kazakhstan with $1.8bn. Turkish construction companies undertook 60 projects in Turkmenistan in 2013, representing the highest-ever figure for the industry.
In 2012, the average value of a construction project in foreign countries was $60m, increasing to $83.70m in 2013.
Major projects -- worth more than $1bn -- for companies in 2013 included a port in Turkmenistan's Turkmenbashi along with an airport and the third phase of an Olympic village designed for possibly hosting the Olympics in Ashgabat.
Housing, trade centres and government buildings accounted for $12.4bn, while transportation projects comprised $10.3bn and industrial and energy facility projects made up $6.2bn.
Between 1972 and 2013, the construction industry has undertaken 7,371 projects worth $274.1bn in 103 countries. In 2023, the 100th anniversary of the founding of the Turkish Republic, the industry aims to increase the total value of projects to $100bn.