In 2024, the Industrial Machinery Value Added in Turkiye is forecasted to be 20.55% of Manufacturing Value Added. This value is projected to increase steadily, reaching 20.75% in 2025, 20.95% in 2026, 21.15% in 2027, and 21.34% by 2028. Compared to 2023, where the value stood at 20.35%, this indicates a continuous upward trend.
Year-on-year variation:
- From 2023 to 2024: 0.98% increase
- From 2024 to 2025: 0.97% increase
- From 2025 to 2026: 0.96% increase
- From 2026 to 2027: 0.95% increase
- From 2027 to 2028: 0.90% increase
The Compound Annual Growth Rate (CAGR) over the last five years averages approximately 0.95% per year. This consistent growth suggests a stable and positive trajectory for the industrial machinery sector's contribution to manufacturing value-added in Turkiye.
Future trends to watch for include potential technological advancements, shifts in export demand, and government policies aimed at bolstering industrial production, which could further influence the sector's value-added. Monitoring global economic conditions and regional trade agreements will also be crucial in predicting future performance.
