Turkey’s foreign construction revenue hits record high

ISTANBUL - Anadolu Agency

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Turkish construction companies’ revenue from projects abroad hit a record high of $271 million in August 2014, according to newly compiled data.

A total of $708 million in revenue was earned by Turkish construction companies between January and August of this year. Throughout the whole of last year, they earned a total of just $674 million from their foreign operations.

“Turkey remains a strong player in the global construction market, being the second biggest after China. There are 43 Turkish companies in the list of the 250 largest construction companies in the world, even with all the geopolitical risks in the region,” said the general manager of TAV Construction, Ümit Kazak.

Kazak predicted that Turkish companies would continue to take large roles in major infrastructure projects in neighboring oil-rich countries.

Turkey’s current account deficit rose in August to $2.77 billion from $2.63 billion. A slight increase was also seen on an annual basis.