The production in the manufacture of electronic components and boards sector in Turkey has seen a notable growth trajectory over the past decade. Standing at 11,370 million New Turkish Liras in 2023, it has consistently demonstrated robust year-on-year growth. The annual increase remained strong, with an especially significant surge in 2017. For the most recent two years, the year-on-year variations were 18.3% in 2022 and 15.32% in 2023. The average annual growth rate (CAGR) over the last five years stood at 22.62%, underscoring a remarkable expansion in the sector.
The forecast indicates a continued growth albeit at a more moderate pace. By 2028, the sector is expected to grow at an average annual rate of 7.78%, achieving a total growth of 45.43% over the next five years. Key future trends to watch for include technological advancements, government policies promoting local production, and the global supply chain dynamics.
