Turkish construction companies undertook $7.6 billion (TL 247.5 billion) worth of projects abroad this January-June, according to an analysis of Trade Ministry data by Anadolu Agency (AA) on Wednesday.

Despite daunting factors such as global economic problems, the pandemic outbreak, and the Russia-Ukraine war, Turkish contractors managed to increase the average project value to $65 million last year, the report said.

The average project value, in comparison, was recorded at $39.4 million in 2022, according to the data.

Moreover, the average project value showed remarkable progress and climbed to $92.3 million this January-June. The number of projects undertaken abroad stood at 82 in the stated period.

The Turkish contracting sector has also completed 12,207 projects with a budget of $511 billion in 137 countries over the last 52 years since 1972, the data showed.

Looking at the project-based percentages in all the projects undertaken by Turkish contractors until now, road investments constituted the largest share, with 13.9%, while airport investments represented the smallest share, with 6.5%.

Russia ranked first in the distribution of projects by country, with a 20% share worth $102.3 billion, according to the data.

Turkmenistan followed Russia with a share of 10.5%, with the amount of projects undertaken at $53.4 billion. Iraq ranked third with a share of 6.8% or $34.7 billion worth of projects. These countries were followed by Libya, with projects undertaken at $30.9 billion and Kazakhstan, with $29 billion.

Moreover, Engineering News-Record (ENR) magazine's annual list of the world's 250 largest contracting firms for 2023 included 40 Turkish companies.

Accordingly, Türkiye ranked second on the list after China in terms of the number of companies.