The wholesale of machinery, equipment, and supplies sector in Turkey has shown a strong and steady growth trajectory, with turnover rising from 93.67 billion New Turkish Liras in 2013 to 691.7 billion in 2023. This represents a considerable expansion driven by multiple factors, including increased industrial activity and investments in modernization. Over the last two years, the sector experienced a 19.81% year-on-year increase in 2023, reflecting a slight deceleration from the 25.01% growth in 2022. The five-year compound annual growth rate (CAGR) up to 2023 stands at an impressive 30.1%, highlighting consistent growth momentum.
Looking ahead, the sector is expected to maintain positive growth, with forecasted turnover reaching 1246.6 billion New Turkish Liras by 2028. This projection implies a five-year CAGR of 9.14%, suggesting a more tempered yet still robust expansion. Future trends to monitor include technological advancements, policy changes affecting industrial imports and exports, and macroeconomic factors such as currency stability and inflation rates.
