Over the past decade, Turkey's import of electrical and electronic equipment has shown considerable fluctuations. Between 2013 and 2014, there was a slight increase, but this trend reversed slightly until 2016 when imports surged significantly by 14.04%. This uptick continued in 2017 but then fell sharply in 2018 to the lowest level of the period. After mixed changes in the subsequent years, 2021 saw a notable resurgence of 22.67%, culminating in a relatively stable trend until 2023, which saw a modest increase of 1.68%, standing at 19.765 billion US dollars. The average annual growth rate (CAGR) over the last five years, ending in 2023, was 3.64%.
Looking forward, Turkey's electrical and electronic equipment imports are forecasted to grow gradually, reaching 21.474 billion US dollars by 2028. The five-year forward CAGR projects at 1.31%, indicating a steady but moderate growth trajectory. This implies a more stable import environment compared to the preceding years.
Future Trends to Watch For:
• Technological advancements driving demand for newer electronic equipment.
• Economic policies and trade agreements affecting import tariffs.
• Influence of local manufacturing capabilities and investments in domestic electronic industries.
• Global supply chain disruptions and their impact on import levels.
