The Industrial Sector in Turkey

The Turkish industrial sector has been under the spotlight since the onset of the 1950s when government policies for the purpose of regulation and development started sprouting. It was during these golden years that a strategy called “import-substitution” had been developed and implemented. With this approach being the policy that governed majority of their trade activities, they were able to see significant success until the latter years of the 1970s.

While the first comers focused on non-durable goods and food products, the next wave brought about the rapid production of cement, chemicals and steel. However, as soon as the sector started picking up speed on the production of high-technology commodities and capital goods, their growth was stalled by significant shortages. With insufficient energy, they lost the capacity to compete in the global market.

To address this problem, a new life-saving strategy was introduced. The concept of "liberal economy," established in the 1980s, encouraged an outward and less conservative approach to enterprising. This allowed the industrial sector to compete with other countries. As the Turkish industry enjoyed a considerable level of competitive advantage in the international arena, it was resuscitated back to life.

Amidst the economic success, however, the industrial sector chose not to stop moving onwards. Many improvements both in the public and private sector have taken place ever since. Today, the key industries-which are focused on different areas, namely mining, iron and steel, textiles, chemicals, cement, food processing and motor vehicles-prosper in the global scene. Furthermore, the earliest manufacturers of consumer goods still remain counted among the country's big names at present.

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