Turkey’s automotive exports hit monthly high

Posted on 16 Jun 2018 and read 375 times
Turkey’s automotive exports hit monthly highThe automotive industry, which led Turkish exports for the last 12 years, has maintained a continuous upward trend over the last 28 months.

The sector’s exports amounted to $2.8 billion in May — an increase of 8% compared to May last year, according to the Uludag Automotive Industry Exporters’ Association (www.uib.org.tr).

Moreover, May’s automotive exports represented almost 20% of Turkey’s total exports for the month. In the first five months of 2018, auto-motive exports totalled $13.9 billion.

In terms of product groups, exports in May by the automotive sub-industry (supplying parts to the automotive industry) increased by 24% (compared with May 2017) to reach $1 billion.

Automobile exports, however, decreased by 4% to $1.05 billion, while exports of light commercial vehicles rose by 9% to $471 million.

Exports of buses, mini-buses and midi-buses decreased by 4% to $149 million.

The UK was Turkey’s largest individual market for light commercial vehicles, although demand in May fell by 7%. In the bus, mini-bus and midi-bus product group, exports to Germany — the biggest market for Turkish makers — experienced a 23% decrease, although exports to Italy rose by 68%.

On a country-by-country basis, automotive exports to Germany (the largest market) rose by 5% to $423 million, while exports to Italy (the second-largest market) also increased by 5% — to $310 million.

Exports to France, the third-largest market for Turkey’s automotive exports, increased by 16% to $308 million.

The share of EU countries in total exports was 80% in May.

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