According to data compiled from the Ministry of Trade, the sector undertook 371 projects worth $16.2 billion in 2020, despite political instability in target countries, cyclical problems and the effects of the Covid-19 pandemic.
In 2021, in parallel with the decrease in the negative impact of the pandemic on the world economy, the total value of the projects undertaken by Turkish companies abroad increased to 30.7 billion dollars. The number of projects undertaken in this period was recorded as 443.
The overseas contracting sector spent last year under the shadow of global economic problems and the Russia-Ukraine War. The number of projects undertaken by the sector in this period was 492 and the total project value was 19.1 billion dollars. The average value of the projects undertaken last year was calculated as 38.8 million dollars.
The sector undertook 120 projects in the January-July period of this year. The value of the projects undertaken in this period was recorded as 8 billion 933 million 299 thousand dollars. The average value of the projects undertaken in the first 7 months of the year was calculated as 74.4 million dollars.
The overseas contracting sector undertook 11 thousand 768 projects worth 482 billion dollars in 134 countries from 1972 until the end of July this year.
Middle Eastern countries attract attention
Russia ranked first with a share of 20.3 percent in the distribution of projects undertaken abroad by contracting companies since 1972. To date, 97.9 billion dollars worth of projects have been realized in the said country.
Russia was followed by Turkmenistan with a share of 10.6 percent, while the value of the projects undertaken amounted to 50.8 billion dollars. Iraq ranked third with a share of 6.9 percent and 33.2 billion dollars worth of projects undertaken. These countries were followed by Libya with 30.2 billion dollars worth of projects and Kazakhstan with 27.9 billion dollars worth of projects.
The Saudi Arabian market, which the sector is focusing on to get more share, also stood out with a share of 5.2 percent and a project value of 25.1 billion dollars. In this period, projects worth 19.9 billion dollars were undertaken in Qatar and 12.5 billion dollars in the United Arab Emirates.
Turkish contractors have so far carried out $34.7 billion worth of trade center and $30.7 billion worth of airport projects abroad.
Awards will be given
On the other hand, Turkiye ranks second in the "List of the World's 250 Largest International Contracting Firms" announced by the international industry magazine Engineering News Record (ENR).
The Turkish Contractors Association (TCA) will organize the "Overseas Contracting Services Awards Ceremony" on Tuesday, August 22.
President Recep Tayyip Erdoğan and Minister of Trade Ömer Bolat are expected to attend the ceremony, where Turkish contracting companies that made the list will receive their awards.