A report on the state of the construction industry in Turkey has been published: the sector that has gone through a very difficult period due to the coronavirus pandemic is now under pressure from rapidly growing costs. An increase in the exchange rate is also becoming a negative factor for the industry, which is reflected in the cost of imported building materials. As of July, the Construction Cost Index grew by 27 percent year on year in 2018, by 18.4 percent in 2019 and by 9.2 percent in 2020.
To support the construction industry, the Turkish authorities have launched one hundred percent transition to locally produced finishing and building materials. According to experts, such a transition will reduce construction costs by 15-20 percent. The plans of the Turkish government are to fully meet the internal needs of the market for building and finishing materials, and at the same time to increase the volume of their exports by 4 times or more.