The number of employees in Turkey's ships and boats building sector has shown variability over the past decade. In 2023, the employee count stood at 20,000 persons. Historical data depicts stable employment from 2014 to 2015, followed by modest increases until 2017. Significant growth was noted in 2018 and 2019, driven by improving industry conditions. A slight dip occurred in 2020, likely due to economic disruptions, but the sector rebounded in 2021 and continued growing steadily to 2023.
Key observations:
- 2019 saw an 18.75% increase year-on-year.
- 2020 experienced a 5.26% decline.
- 2021 and 2022 observed moderate growth of around 5% per year.
- From 2014 to 2023, the compound annual growth rate (CAGR) was consistently positive around 4.56%.
Forecasting shows a maintained upward trend with a 5-year CAGR of 1.84% and an overall growth rate of 9.52% by 2028. Future trends to watch include potential technological advancements in shipbuilding, shifts in global trade policies, and economic stability impacting industry employment. Monitoring these developments could provide insights for investment and strategic planning in the sector.