Technology exports from Turkiye jumped nearly 40 cent year-on-year to over $5bn, while startup investment in Turkiye has also increased, figures show.
The disclosure of the figures comes as Turkiye brings a large national delegation to London Tech Week, which is running this week.
The value of Information and Communications Technology (ICT) exports out of Turkiye hit approximately $5.3 billion in 2024, up 37.8 per cent year-on-year, according to figures from KPMG. The figures are the latest full-year figures available.
ICT exports include software products, IT services, telecommunications services, digital solutions, hardware and equipment exported to markets including the EU, its primary market, Asia, North America and the Middle East and North Africa.
According to the Turkish Investment and Finance Office, the reason for the increase in ICT exports was attributed to a large and growing R&D ecosystem, growing numbers of technology companies and technoparks in Turkiye and an increasing engineering workforce, with a large share of its workforce under 35.
Other figures show that Turkiye’s startup investment deal volume jumped 423 per cent on the year to 2024 to $2.6bn, figures from KPMG show.
The reason for the increase is down to a recovery in global markets, complemented by a shift towards larger deal sizes, experts say.
Deals above $500 million accounted for a significantly higher proportion of total value compared to the previous year. Financial investors, particularly private equity, have played an increasing role in driving higher transaction values.
Investment activity was concentrated in sectors such as services, energy, manufacturing, and technology.
Among the companies presenting on Turkiye’s s Stage at London Tech Week are AloTech, Turkiye’s largest cloud contact-centre platform, Privia Security, a cybersecurity specialist, and broadAngle, a software development agency.
Speaking at London Tech Week, İlhan Bağören, board member of the Service Exporters’ Association (HİB), said: “Turkiye’s technology sector is increasingly competing on a global stage. Our companies are expanding internationally, attracting investment and building partnerships."
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