According to the relevant media, contractors from Turkey completed work abroad totaling $4.3 billion in the first quarter of 2024 alone. Moreover, according to official statistics from the Ministry of Commerce, the total value of projects implemented by Turkish firms abroad has risen to $31.1 billion per year.
For example, despite the fact that the negative impact of the pandemic was strong in 2021, the number of international projects amounted to 454, while the number of foreign projects in 2022 amounted to 506 totalling $19.9 billion per year. Despite the fact that the situation was spoiled by the Russian-Ukrainian conflict in 2023, coupled with global economic problems, the number of projects implemented by the industry during this period was 431, and the total cost of projects was estimated at $ 28 billion.
As for the year, Turkish contractors completed a total of 40 projects abroad in the first quarter for a total of $4.3 billion.
The average cost per project was estimated at $39.2 million in 2022, $65 million in 2023. Judging by the data from January to March, this is over $107 million in 2024, which is an important indicator of the sphere. Moreover, this figure exceeded the most significant result of 2025.
As you know, Turkish contractors carried out a total of 12,164 projects abroad in 136 countries, worth $507.2 billion from 1972 to the end of March 2024. The Russian Federation ranks first with a 20.1% share and a total project cost of $102.1 billion. Turkmenistan is in second place with a share of 10.5% and an amount of $53.4 billion. Iraq ranks third with a share of 6.8% and projects worth $34.6. Libya ($30.8 billion) and Kazakhstan ($28.9) occupy the fourth and fifth places.
Turkish developers working abroad are focusing on the countries of the Middle East as one of the main target audiences. They are also becoming more popular in the US market.