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HIDDEN TRUTH OF THE GOLD INDUSTRY IN TURKEY

GOLD INDUSTRY OF TURKEY – TURKEY TRADE DATA

The golden industry of Turkey is said to be one of the prominent industries in the nation. By looking at the statistics and the Turkey Export Data for the year 2021, we come to know that the nation exported total goods worth USD 225.3 billion out of which precious metals like gold contributed USD 11 billion. This accounted for close to 4.88% of total exports.

As per the statistics of Turkey, the nation has produced more than 150 tons of gold in 5 years. In the year 2020, it reached a record high of 41 tones. Officials of the nations had set a target for the nation to produce 100 tons of gold in the next five to six years and become one of the leading manufacturers of gold.

The growth of the gold industry is happening due to two main factors:

• Turkey invested more than USD 6 billion in the gold industry
• Large manpower employed in this field, i.e., close to 13,000 people

Some of the major gold refineries that are situated in Turkey, and which contribute to exporting gold and boosting Turkey Export data are:

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