The export of Electrical and Electronic Equipment from Turkey showed varying trends in the past decade. From 2013 to 2023, the export values experienced fluctuations with a decrease observed from 2015 to 2016 followed by gradual recovery. Notably, the export value stood at USD 9.2271 billion in 2023.
Year-on-year variations were significant: - In 2021, there was a 22.34% increase following a decline in 2020 (-15.67% YoY). - Year-on-year growth was relatively stable in 2022 and 2023, at 1.49% and 1.44% respectively.
Regarding the Compound Annual Growth Rate (CAGR): - Over the last five years (2019-2023), the CAGR was 1.24%. - Forecasted values from 2024 to 2028 suggest a CAGR of 1.12%, predicting steady growth towards 2028.
Future trends to watch for: - Given global technological advancements and Turkey's potential for increasing its manufacturing capabilities, growth in exports of electrical and electronic equipment over the next five years. - Macro-economic factors, global trade policies, and local industry innovations will significantly influence export levels. Efforts towards sustainable practices might also become crucial for maintaining competitive edge.
