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White Goods Industry Overview

Tacirler Yatırım

“Shrinkage in exports, ongoing geopolitical uncertainties, increasing interest rates and borrowing costs…”

The white goods industry in Turkey ranks second in the world after China and is the largest production base in Europe in white goods production (TURKBESD, 2023). When looked at in terms of total production amount, 75% is exported to 150 countries. This situation has placed Turkey in the 7th place globally in white goods sector exports (TURKBESD, 2023). The sector contributes 4.5 billion USD in exports and 600 thousand jobs annually. Differences in production: Turkish brands that create
technological innovations and produce the best in their products, such as "the washing machine that consumes the least water, the refrigerator that consumes the least energy", stand out in the international arena. Within the scope of TÜRKBESD 2030 targets, a reduction of 6.2 TWh and 2.3 million tons of CO2eq emissions in electricity consumption is expected (TURKBESD, 2023). In total production figures in Turkey, 26 million units of 34 million units of products are exported, while 7.7 million are sold to the domestic market. China, on the other hand, produces 275 million units of white goods in total by 2023 (China produces approximately 7.5 times more white goods annually). In the January-November 2023 period, Turkey's white goods imports increased by 89% and reached 308 thousand 650 units. The import figure in July increased by 96% and reached 44,579 units (TURKBESD, 2023).

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