Turkish defence industry investments increase by 85 per cent
Azerbaijan, Baku, May 20 / Trend A. Taghiyeva /
Turkey's investments in the defence industry have increased by 85 per cent to 45.3 billion lira for the last five years, Anadolu agency said on Monday.
According to the report, the turnover of the Turkish defence and aerospace industry sectors increased by nine per cent to $4.7 billion in 2012 compared to 2011. Exports of the defence and aerospace industries increased by 16 per cent to $1.2 billion last year.
The agency reports that Turkey intends to bring the turnover of defence products up to $8 billion till 2016, while exports up to $2 billion.
The Turkish defence industry has recently focused on the development and production of its own products. Turkey managed to achieve a self-sufficiency level in the defence industry at 54 per cent.