The Manufacture of Electronic Components and Boards sector in Turkey has shown substantial growth from 2013 to 2023, rising from 998.5 million to 6770 million New Turkish Liras. The year-on-year variation peaked in 2017 with a 78.23% increase but saw a significant decline in 2020 due to global disruptions. The sector rebounded with a 28.7% increase in 2021, although growth rates slowed to 5.77% in 2023. The Compound Annual Growth Rate (CAGR) over the five years leading up to 2023 was 9.57%.
Future trends to watch include:
- Continued steady growth with forecasted turnover reaching 8700 million by 2028.
- A projected 5-year CAGR of 3.93%, indicating a slower pace but ongoing expansion.
- Potential impacts from technological advancements, global supply chain adjustments, and local economic policies.
