Homepage / FINANCE / Turkey named world's second-largest contractor
Turkey’s tourism revenue up nearly 20 percent in 2017 Arab investors’ interest in Torbalı Turkey to support entrepreneurs in clean technology Turkish textile sector made 74 thousand $ per minute export Number of technoparks in Turkey rises to 71 Reform package to boost Turkey’s investment environment Turkish online gaming sector to reach $2 billion by 2020 Turkish Marble Sector gathered in Muğla for environment In all sectors, Turkey shines with great export potential Italian pianist Libetta to perform with Turkish pianist Onay Nearly 330 thousand visitors enjoy balloon ride in Cappadocia Izmir awarded as “eco-friendly” city A giant breakthrough from İzeltaş Global bridal fashion sector met in İzmir Domestic tourism surges 16.1 pct in 2017 Q3 Fiat Egea: Turkey’s most preferred model Turkey’s exports surge in January Export record in January from Aegean companies Tarakçıoğlu: More than 40 Turkish firms will show up at Foodex Japan Getting ready for MODEKO fair, furniture sector exported 120 M$ from Aegean region “Kaya: The Turkish mining sector will continue its upward trend in 2018” “Now the world wıshes to be here” Aegean export champions received awards 10 percent of fresh fruit and vegetable sector exports will carried by air cargo Turkish fishermen are ambitious to enter US market Turkish TV series made 350M $ export 1.5B $ export from leather sector Denizli towels’ new target market: US Turkey’s largest agriculture fair opens in Izmir Zeybekci: Turkey’s growth may be in double-digit in Q3 Vardarcı Makina focusing on R&D operations Turkey’s tourism earnings to reach $30 billion in 2018 Turkey plans direct Treasury transfers to lure more investments A journey of taste from Bulgaria to Ayvalik Turkey’s potential in agro-food sector and export capacity Four Turkish cities among top tourist destinations Turk Eximbank becomes full member of Asian Exim Banks Forum EU raises Turkey’s growth forecast Erdoğan & Elon Musk discuss Tesla cooperation with Turkish firms Özgener: 2018 exportation expected to reach 1B $ Turkey will reach its export target of $ 156.5 billion Seyyar: We expect the rise to continue in 2018 Tarakçıoğlu: Our trading is not affected by regional developments Kaya: We are in a position which we can go beyond the goals of 2023 Galiko: Our export performance is fine despite crises Celep: Exports worth 3 billion dollars is our goal for the year 2023 Kızılgüneşler: We target 1,3B $ export in 2018 Limited production, high quality: CMRT Olive Oil Excellent olive oil from excellent olives Russia agrees to import 50,000 tons of Turkish tomatoes in December Moscow Exchange to start trading Turkish Lira, Japanese yen in 2018 Turkey’s industrial production rises 5.2 percent year-on-year Menkur Tarım picks and processes high quality chestnut and cherry Exportation of cereals, pulses, oil seeds and products in Turkey Aegean fishermen making three thirds of the Turkey’s seafood exportation Olive oil exportation of Turkey breaking records Tobacco and products sector in Turkey Advantages of Turkey as a major food exporter “The most reliable product can be bought from Turkey.” Follow the stands of the Turkish firms for the innovations in the food and beverage sector Demand for Turkish dry fruits increase Baltali’s philosophy: “We produce with maternal sensitivity” Turkey’s advantages for producing fresh fruits Shining star of tourism and agriculture: ÖDEMİŞ Turkey’s exports rose 12 percent in August Turkey’s industrial production up in July The first ship to export dried figs will set sail on October 11 Turkish, Israeli companies engage in big diamond trade “Investments started to recover and foreign demand is strong” Turkish PM indicates $300B investment in 10 years ANFAŞ General Manager Özer’s call for FoodProduct: Don’t be late! Comments on Economic Expansion Turkish Trade Center opens in New York Amid stong growth, Fitch to review Turkey’s growth outlook Two Awards to Pinar by Stevie Awards Global economists see Turkey’s growth as positive development Turkish-Iranian bilateral trade could potentially exceed $100B, Iranian envoy says Turkey’s exports to Russia soar 52.5 percent since January Istanbul drops 12 places in global financial centers index Over 6,500 new companies launched in August The first ship to export dried figs will set sail on October 11 Turkish gov’t to establish 5 mega industrial zones Turkey’s industrial production soars 14.5 pct in July Turkey’s economy grows 5.1 percent in second quarter of year Chinese tourists to triple next year as flight frequencies increase 4 million cubic meters of concrete to be used for Turkey’s highest dam Europe’s leading tour operators to increase Turkey’s share by up to 20 pct Turkey named world’s second-largest contractor Over 61 pct of Istanbul New Airport complete Turkey’s cherry exports since April reach $155M Turkish aviation sector to grow further with Istanbul’s third airport Turkey’s top glass maker plans investments to boost capacity at home, abroad Turkey, Vietnam agree to double trade volume in 3 years Anuga 2017 scheduled for October in Germany Belarus becomes top tomato importer from Turkey’s Antalya amid Russia ban Turkey signs trade agreement on agriculture with Serbia Russian minister calls Turkey ‘crucial’ trade partner Turkish contractors rank second in world for foreign projects for 10th straight year 86th İzmir International Fair opens Iva Natura: Leader in organic beauty export


Turkey named world’s second-largest contractor

The number of Turkish contractors on the list of The Top 250 International Contractors rose to 46 in 2016 from 40 in the previous year. While Turkey followed China, which is the first largest international contractor with 65 contracting companies on the list, the U.S. ranked third with 43 companies.

The total revenue generated by Turkish contracting companies from the projects that they undertook abroad last year was $25.6 billion. Among the Turkish firms, the first three were Rönesans, Polimeks and Enka.

In the recent period, fluctuations in the global economic environment and risk appetite increased its influence on the international construction industry which is on the top of the sectors most affected by the global economic uncertainty. According to Engineering News-Record (ENR), a prestigious American weekly magazine providing news, analysis, data and opinion for the construction industry worldwide, the market size of the world’s largest 250 international contractors dropped to $501 billion in 2015 with a 4.1 percent decline in two consecutive years and to $468 billion in 2016 with a 6.4 percent shrinkage from $544 in 2013. The list is prepared based on the revenue gathered by contractors from their overseas activities in the previous year in consideration of the tightening in global liquidity conditions and the effects of geopolitical issues.

The ENR’s statement said: “Low oil prices and global economic and political turmoil are causing companies to be cautious about market risks and deliveries,” in the introductory sentence of its bulletin titled “A Hard Look at a Challenging Market” summarizes concerns about the global construction sector.

In the conjuncture where the international contracting market has declined by 14 percent in the last three years, the overseas performance of Turkish contractors has risen. Both the number of Turkish companies in the ENR list increased to 46 last year from 40 in 2015 and their market share increased in the same period. The total market share of the listed Turkish companies was 3.8 percent in 2013, 4.3 percent in 2014, 4.6 percent in 2015 and 5.5 percent in 2016. While Turkish contractors’ share of regional revenues decreased somewhat in Europe, it increased all in their main markets. Their market share rose to 9.1 percent from 7.9 percent in the Middle East, to 7.0 percent from 5.5 percent in Asia, and to 5.1 percent from 4.7 percent in Africa.

Following the announcement of the ENR list, Mithat Yenigün, head of the Turkish Contractors Association, said: “Leaving mark on this report, which is closely followed and accepted as a reference throughout the world, with 46 companies, 42 out of which are the members of our association, and ranking second after China for 10 years is a great source of pride for us.” Yenigün said that uncertainties and geopolitical risks have increased dramatically and investments in energy exporter countries have lost momentum due to falling energy prices in the recent period, adding, “Despite the adverse developments in our major markets, it is a tremendous success that our firms have increased their share of total revenue.”(dailysabah)

Comments are closed.