Türkiye’s construction sector contracted 1.9 percent in the second quarter of 2026, breaking a run of 14 consecutive quarters of growth that had continued into the first quarter of the year.
Rates squeeze investment
İlgen said high interest rates are making investment decisions harder for the sector. He said the elevated rate environment is also putting pressure on housing prices.
He pointed to a decline in new building permits as a signal.
Exports to the US
Saint-Gobain Construction Chemicals, which is active in cement and concrete chemicals, draws about 15 percent of its turnover from exports. Annual exports run to approximately $50 million.
Roughly $20 million of that total, or about 40 percent of exports, goes to the United States. The company’s priority export markets also include Azerbaijan, Georgia and Central Asia.
