Turkey, Economy

Turkey: Defense, aviation revenues reach $8.76B in 2018

Last year, Turkey spent $1.45B for researches, development in defense field

Aysenur Saglam   | 19.04.2019
Turkey: Defense, aviation revenues reach $8.76B in 2018


Turkey's defense and aviation revenues jumped by 31% to reach $8.76 billion year-on-year in 2018, an official announced on Friday. 

Speaking at an award ceremony in the capital Ankara, Ismail Demir, the head of Defense Industries Presidency, said Turkey’s defense exports also soared by 20% to $2.2 billion during the same period.

"Last year, we spent $1.45 billion for researches and development in the defense field," he said.

Employment in the defense industry sector surpassed 67,000 last year, Demir added.

Underlining the importance of developing and manufacturing original products, he said Turkey will continue its efforts to expand the sector.

*Writing by Gokhan Ergocun from Istanbul

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