The Turkish ship and yacht industry has achieved the highest export figure for the first 10 months ever this January to October, totaling $1.8 billion (TL 76.06 billion), according to a report on Thursday citing trade data.
With a positive momentum in sales, sector representatives are now aiming to surpass the annual record.
The sector’s exports increased by 16.3% compared to the same period last year, representing 0.9% of Türkiye's total exports, a report by Anadolu Agency (AA) said.
During the January-October period, the sector’s largest export market was Norway, with $325.95 million.
Denmark followed with $172.8 million, Greece with $164.4 million, the Marshall Islands with $163.6 million, and the United Arab Emirates (UAE) with $139.2 million.
Evaluating the trends in the sector, Cem Seven, the president of the Turkish Ship, Yacht and Marine Services Exporters' Association (GYHIP), noted that the reported figures do not include foreign-exchange-earning services provided by member companies or exports from free zones.
Comparing targets and forecasts set at the start of the year, he stated that with two months left in the year, they have reached desired export levels.
"The main reason behind this reflected success is our long-standing delivery track record and business relationships. In fact, current export figures come mainly from orders received 12-48 months ago. We can truly say we are reaping the fruits of past successful work," he said.
Seven added that at the start of 2025, their year-end export expectation was $1.7 billion and that now they are aiming to surpass the annual export record of $1.942 billion.
Noting that they have already met their expectations for the first 10 months, he said: "We even managed to get ahead. The next step is to realize our target."
"With the exports to be made in the last two months, our goal is to surpass $1.942 billion and maybe, for the first time in our history, to exceed $2 billion in exports," he said.
He also evaluated the impact on exports of the International Maritime Organization's (IMO) target to achieve zero emissions by 2050 as part of decarbonization rules.
"As Türkiye, we have developed significant R&D and application experience in liquified natural gas (LNG), hybrid-electric systems, battery-assisted propulsion solutions and energy recovery technologies. This infrastructure boosts our competitive edge in the green transformation process," he maintained.
Seven also highlighted the sector's strength in local supply chains and engineering workforce, and noted that the collaborative model between universities, research centers, design offices and shipyards provides agility in developing and deploying next-generation technologies.
Providing information regarding target export regions, he said that Northern Europe and other European countries continue to be the primary target markets.
In the end, speaking about their aim to expand their share in the Canadian market, he added: "It’s a market on our radar with our digital promotion project goals. In the Gulf and Middle Eastern countries, we want to increase our effectiveness for many product groups."
