Manufacture of machinery for mining, quarrying revenue in Turkey 2013-2022

Turkey is blessed with a large and diverse mineral resource base. It is one of the largest producers and exporters of boron and soft brown coal to name a few. Therefore, it isn’t surprising to see revenues from mining and quarrying increasing steadily from 1.2 billion U.S. dollars in 2013 to 1.7 billion U.S. dollars in 2019. The sector has also emerged as a major employment provider with the number of employees having grown 24 percent between 2009-2014.

Initial projections for the medium term demonstrated a 6 percent growth in revenues. However, the outbreak of the corona virus has thrown all industry and supply chains operations off gear and the forecasted growth at this point in time seems rather far-fetched. Turkish mineral exports are expected to take a major hit, as many nations around the globe have closed their borders for an indefinite period of time. Moreover, coal prices are projected to touch decade low figures, which will have a significant impact on producers during the short to medium term.