The Turkish logistics and transportation sector, with a market size of $100 billion, holds a 2.5% share of the global logistics market and ranks 11th globally, the Trade Ministry said Saturday.
In a written statement, the ministry noted that efforts and activities were accelerated in the logistics and transportation sector with an aim of maximizing the country's geographical advantage and increasing goods exports and foreign trade.
The statement emphasized that the sector holds a 2.5% share of the global logistics market, which is $100 billion and ranks 11th in the world. It was also highlighted that the sector accounts for 40% of Türkiye's total service exports, and this figure increases every year.
According to the statement, Türkiye climbed from 47th place with 3.15 points in the Logistics Performance Index (LPI) measured by the World Bank in 2018 to 38th place with 3.4 points last year.
"Our goal in the 12th Development Plan is to rise to 25th place by 2028," it added.
Furthermore, the ministry said one of its investments in the logistics and transportation sector, which constitutes one of the most important pillars of the services sector, is the support for the Overseas Logistics Distribution Networks (YLDA) Project.
"Beyond mere support for a single center and its elements, the YLDA Project comprehensively addresses overseas logistics networks as an end-to-end system, recognizing their significance as a vital component of the supply chain," the ministry explained.
"We received 24 applications to our ministry, and approval was granted to six projects, two of which are based in America and four in Europe," it added.
Mentioning the investments in the sector, authorities indicated that five brands were supported under "branding," and six brands were supported under the "Turquality" program, in addition to the support provided to the companies to participate at the most important fairs in the sector in Spain, Germany and Poland under national organization.
It was also noted that approximately TL 395 million ($12.2 million) in financial support was provided to the sector by the ministry in 2023.
The statement emphasized that the logistics and transportation sector contributed significantly to the country's economy, with $40 billion in exports in the said year. Aiming to take a larger share of global trade and contribute to the country's sustainable growth, the ministry also said it introduced new support packages.
The statement also highlighted that companies operating in the sector have started benefiting from these supports for the first time and aimed to expand their scope.
"In the upcoming period, the aim is to expand the scope with different support items further. In line with the continued increase in sector exports, we will maintain our strategic roadmap and support efforts in collaboration with sector stakeholders throughout 2024," the statement said.
