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Turkish Defense & Aerospace Industry Closes First Two Months of 2021 with 17.5% Increase in Exports

Having closed the year 2020 with a fall by 16.8% in the export of defense and aerospace products compared to 2019, the Turkish Defense and Aerospace Industry has succeeded in maintaining the upward trend in exports which began in December 2020, carrying this momentum into the first two months of 2021, despite the negative effects of the COVID-19 pandemic and closed the first two month of the year with an increase in exports.

Issue 105

According to data released by the Turkish Exporters Assembly (TIM), the Turkish Defense & Aerospace Industry realized US$ 166.997 million in defense and aerospace equipment exports in January (represents a 3.7% increase compared to the same period of the previous year) and US$ 233.225 million in February 2021, represents a 34.1% increase compared to the same period of the previous year and around 40% increase compared to January 2021. According to export figures revealed by TIM, during January 1st - February 28th of 2021, the Turkish Defense & Aerospace Sector exported a total of US$ 400.222 million, while the said figure came in at around US$ 340.594 million level in the same period of last year (representing a 17.5% increase). 

Even though the industry’s January export data shows about a 62% decrease compared to December 2020 (US$ 279.512 million), December exports are generally higher compared to other months due to the year-end closures, as many countries and domestic customers prefer to place their orders in December with the remaining money from their budgets.  When we take a look at the export figures of the Turkish Defense and Aerospace Industry in January in the last three years, we observe that in January 2021, there is a 3.7% increase compared to January 2020 (US$ 166.851 million), a decrease of approximately 0.9% compared to January 2019 (US$ 174.498 million) and an increase of about 62% compared to January 2018 (US$ 106.506 million).