POST Online Media Lite Edition


Turkey exceeds defence export target

Christian Fernsby |
The latest analysis from Jane’s Defence Budgets highlights that Turkish defence exports have exceeded their USD2 billion target.

Article continues below

Turkey’s core defence budget has doubled in nominal terms since 2015 to reach TRY46.5 billion (USD8.1 billion) in 2019, although Jane’s notes that the addition of extra-budgetary items brings total related spending in 2019 closer to TRY64.5 billion (USD11.2 billion).

However, in real terms, the defence budget has increased by one fifth since 2015 as increases were tempered by high rates of inflation.

Turkey invests 5% of annual defence spending to research and development which is one of the highest proportions globally and has served to bolster domestic capabilities.

The focus on self-sufficiency has mitigated some of the fallout from a weaker lira as the country relies less on imported material.”

The country is continuing to work on improving its self-sustaining capabilities by increasing the indigenous content of equipment operated by its armed forces, with the government claiming to have reached a local content level of 65% in 2018.

What to read next

Turkey among most innovation-ready nations in region
Turkey aims to boost clean energy deployment
Turkey sees steepest decline in foreign arrivals since May 1999