Acceleration of Contraction in the Shipbuilding Industry

The shipbuilding industry, which has been losing orders to European competitors due to rising costs and difficulties in accessing financing, has been further hit by the continued VAT exemption. In November, exports of ships and yachts contracted by 41% compared to the same month last year. Cem Seven, the president of the Ship, Yacht, and Service Exporters Association (GYHİB), expressed that job losses in the sector have already begun.

According to Aysel Yücel's report, the contraction in the shipbuilding industry has accelerated. As increasing costs and difficulties in accessing financing have been compounded by the burden of VAT, job losses have also commenced in the sector. Cem Seven warned of a potential increase in losses by 2025, emphasizing the need to support high-tech manufacturing sectors like shipbuilding.