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Turkey Construction Industry Report 2023/Q1

15 June 20232 min. read5,072 views
ET
EPY Team

The earthquakes experienced in Kahramanmaraş center reveal the importance of urban planning and construction activities supervision. as a result of the effects of the earthquake in the first quarter of 2023, the construction sector has made a weak start to the year. The goals of preventing illegal construction and developing effective urban transformation policies for high-risk building stock increase expectations for the construction of earthquake-resistant buildings and the reduction of building stocks by 2023.

The problems experienced in the supply chain and the increase in construction costs observed in the quarterly data had a negative impact on the sector. When the activities that generate GDP are examined, in the first quarter of 2023, depending on the chained volume index compared to the previous year;

  • Service sector 12.4%
  • Finance and insurance activities 11.2%
  • Construction activities 5.1%
  • While Real Estate Activities increased by 1.4%;
  • Agricultural activities 3.8%,
  • Industrial activities decreased by 0.7%.

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