Turkish contracting sector undertook 6.5 billion dollars worth of work
According to the compilation of data from the Ministry of Commerce, the overseas contracting sector undertook 11,745 projects worth $479.5 billion in 133 countries from 1972 to the end of May.
Despite the serious political instability, cyclical problems and the effects of the Kovid-19 outbreak in the target countries in 2020, the sector received 371 jobs worth 16.2 billion dollars.
In 2021, in parallel with the decrease in the negative impact of the epidemic on the world economy, the total cost of the projects undertaken by Turkish companies abroad increased to 30.7 billion dollars. The number of projects undertaken during this period was recorded as 443.
Average cost is $39 million
The overseas contracting industry spent the last year under the shadow of global economic problems and the Russia-Ukraine War. In this period, the number of projects undertaken by the sector was 492, and the total project cost was 19.1 billion dollars. The average cost of projects undertaken last year was calculated as $38.8 million.
The sector undertook 96 projects in the January-May period of this year. The cost of the projects undertaken during this period was recorded as 6 billion 459 million 199 thousand dollars. The average cost of the projects undertaken in the first 5 months of the year was calculated as 67.2 million dollars.
Russia and Turkmenistan top the list
Russia ranked first with a share of 20.4 percent in the distribution of projects undertaken abroad by contracting companies since 1972, by country. To date, 97.9 billion dollars of projects have been carried out in the country in question.
Turkmenistan followed Russia with a share of 10.6 percent. The amount of projects undertaken in this country amounted to 50.8 billion dollars. Iraq ranked third with a 6.9 percent share and 33.1 billion dollars of projects undertaken. These countries were followed by Libya and Kazakhstan.
The Saudi Arabian market, which the contracting industry focuses on to get more shares, also stood out with a 5.2 percent share and a project cost of 24.9 billion dollars.
Looking at the areas where the most projects were undertaken to date, it was seen that housing projects took the first place with a share of 13.9%. The cost of these projects was 66.6 billion dollars.
Most residential and highway projects were undertaken
Housing projects were followed by highways, tunnels and bridges with a share of 13.5% and a project value of 64.7 billion dollars.
The energy sector ranked third in the works undertaken abroad with a share of 8.5 percent. The amount of projects undertaken by this sector to date has exceeded 40.5 billion dollars.
Turkish contractors have undertaken 34.7 billion dollars of trade center and 30.7 billion dollars of airport projects abroad so far.
international competition
On the other hand, in the list showing the world’s top 250 contracting companies, determined annually by the ENR magazine based on the total cost of international projects undertaken in the past year, Turkey took its place with only 8 contracting companies in 2003, while it showed up with 42 companies in 2022. 8 of these companies in the 2022 issue of the magazine found their place among the top 100 companies in the aforementioned list, while 2 Turkish companies entered the top 50. Turkey ranks second in the list after China in terms of the number of companies.
