Based on the forecasted data, the labour costs in the ships and boats building sector in Turkey are expected to rise consistently from 2024 to 2028. The actual value for 2023 stood at 1.78 billion New Turkish Liras. Here's the year-on-year variation in percentage:
- 2024: 3.93%
- 2025: 4.32%
- 2026: 4.66%
- 2027: 3.96%
- 2028: 3.81%
The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is approximately 4.14%.
Future trends to watch for include potential impacts from inflation, economic policies, technological advancements in shipbuilding, and global demand for maritime vessels. Keeping an eye on international trade dynamics and labor market changes will also be crucial in understanding the shifts in labour costs in this sector.
