Construction in Turkey grows 3.7% in first half of 2018


Turkey’s largest economic sector, its building and construction industry, has been showing steady growth in recent years and the first half of 2018 has been no different.

In terms of overall growth, the sector rose 3.7% from January-June 2018. Total growth in 2017 came in at 9%, according to TurkStat, the Turkish Statistical Institute.

So far this year, total construction expenditure reached 312.8 billion TL, which is 37.9% more than the same period in 2017.

In addition, imports of building materials to Turkey rose 7.2% to reach 4.58 billion USD, along with production and exports, which rose 11% and 17% respectively.

This is great news for international suppliers and manufacturers of building materials and technologies looking to grow their business in Turkey.
 

Real-estate

Over the first six months of 2018, Turkey saw the highest rate of foreign nationals purchasing housing in 6 years – 11,816, according to IMSAD, the Turkish Construction Material Producers Association.

IMSAD’s recent report also listed its expectations for the sector in the future: increased and sustainable demand for housing and real estate, a return to high interest rates, improved financial structure of firms, and increased access to finance for house buyers.

If these predictions ring true, Turkey’s building and construction sector could well be set for further growth.
 

Gain access to the Turkish market

Interested in taking advantage of this growing market?

As the region’s largest exhibition of building materials and technologies, Yapi – Turkeybuild Istanbul is the place to be.

If you are a manufacturer or supplier of building or finishing materials looking to grow your business in a new geography, Yapi – Turkeybuild Istanbul gives you direct access to the market in Turkey and the surrounding region.

It’s where industry leaders meet annually to discuss market prospects, source new products, and find new partners.

In 2018, the event welcomed over 85,900 visitors from 135 countries.

Enquire today to find out more about how Yapi – Turkeybuild Istanbul can help your business grow.
 
 
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