Turkey’s defence, aerospace industry exports fall 16.8% y/y to $2.3 billion in 2020 – report – SeeNews

Turkey’s defence, aerospace industry exports fall 16.8% y/y to $2.3 billion in 2020 – report – SeeNews

ANKARA (Turkey), January 6 (SeeNews) – Turkey’s defence and aerospace industry exports amounted to $2.3 billion (1.9 billion euro) in 2020, marking a 16.8% decrease on an annual comparison basis, local media reported on Wednesday.

The disruption in production, supply and logistics processes due to restrictions imposed over the coronavirus pandemic attributed to the decline, Anadolu Agency said, citing data compiled from the Turkish Exporters’ Assembly (TIM).

The defence and aerospace industry’s share in the country’s total exports was 1.3% last year.

The US was the top export market of the aviation and defence industry sectors with $784.2 million, 4% less compared to a year earlier, followed by Azerbaijan with exports worth $260.8 million, which represents a 194% increase compared to 2019.

Turkey’s exports to the United Arab Emirates posted the third-most significant increase with 51%, reaching over $200.2 million.