Turkish investments in defense industry increase by 85 per cent

Azerbaijan, Baku, May 20 / Trend A. Taghiyeva / Turkey's investments in the defense industry have been 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 defense and aerospace industry sectors increased by 9 per cent to $ 4.7 billion in 2012 compared to 2011. Exports of defense and aerospace industry increased by 16 per cent to $ 1.2 billion last year. The agency reports that Turkey intends to bring the turnover of defense products up to $8 billion till 2016, while exports - up to $2 billion. The Turkish defense industry has recently focused on the development and production of its own products. Turkey managed to achieve a self-sufficiency level in the defense industry at 54 per cent. Do you have any feedback? Contact our journalist at agency@trend.az