According to data from the Foreign Trade Undersecretariat, $101.73 billion worth of overseas projects were carried out between the years 2003 and 2009. Seriously affected by the global financial crisis, Turkish contractors took on only $18.07 billion worth of projects last year, down from $23.69 billion in 2008. Turkish firms mainly operate in Africa, the Middle East and the Commonwealth of Independent States (CIS). Of 313 new projects launched last year, 74 were based in Africa, 79 in the Middle East and 120 in the CIS. Turkish contractors also commenced 17 projects in Europe, with a total value of $1 billion, and 20 in the Far East, worth some $378.4 million. Work undertaken in Africa was of the highest value, accounting for 37.3 percent of the overall total, while projects in the Middle East amounted to 29.9 percent.
By country, Libya topped the list for the highest value ventures last year with 40 projects worth $3.9 billion undertaken by Turkish construction firms. Turkmenistan followed with 64 projects worth $2.5 billion. Furthermore, 20 projects worth $2.4 billion.
