The employment in the electrical equipment sector in Turkey shows variability with a general upward trend. From 2013 to 2023, there's steady growth with some fluctuations, peaking at 233 thousand persons in 2022 and 237 thousand in 2023. Growth rates vary yearly, having highs of 5.88% in 2013 and lows of -3.52% in 2019. The 5-year CAGR (Compound Annual Growth Rate) for the period ending in 2023 is 0.87%, indicating moderate increase. The forecasted 5-year CAGR is 1.14%, suggesting a consistent growth averaging 1.14% annually, reaching approximately 254 thousand by 2028.
Future Trends to Watch: Watch for ongoing digital transformation, adoption of automation, and shifts in global supply chains impacting employment. Growth may also be influenced by local economic policies, technological advancements, and international trade agreements.
