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All time annual record for exports broken by Turkish automotive industry

Published On Dec. 4, 2017 By Shubham

Leader of Turkish economy for 11 consecutive years, the automotive industry, has achieved an all-time high record one month before the end of the year. Orhan Sabuncu, Chairman of Uludag Automotive Industry Exporters Association (OİB) said new record of $26 Bn in First 11 months has been set by the automotive industry in terms of an export, industry broke previous record of $24.7 Bn achieved in year 2008.

According to OIB data, compared to last year sector's export has been grew by 21%, and is poised to be the export champion for the 12th time in a row, the automotive industry's exports amounted to $2.6 Bn in November, up 17 percent from the same period last year. $2.6 Bn is the sector's 2nd highest monthly figure in its history, following $2.7 Bn in exports last march.

The automotive sector contributed 19.4% of Turkey's overall export in November, The industry carried out exports of more than $2 Bn on a monthly basis, with the exception of August 2017, industry has achieved $2.4 Bn monthly average export figure.

Sabuncu said the export growth in all primary commodity groups took place in double digits in private cars, sub-industry and motor vehicles for goods transport in November. Exports to Germany, which remains the largest market for the industry, soared by 3 % and to the U.S. by 145 %. The export of private cars and the export of sub-industry products by 100 % and 39 % respectively had an impact on the increase in exports to the U.S.

Private car exports of Turkish automotive industry has soared by 13% to $1.077 Bn among other commodity groups in November, while the automotive sub-industry exports surged by 22 % to $905 Mn. With a 21% hike the exports of motor vehicle for goods transport reached $471 Mn, and the exports of buses, minibuses and midi buses increased by 3 % to $136 Mn in the same month.

Considering key markets, export to Germany which is largest market for automotive sub-industry has increased by 19%, exports to Italy rose by 16%, to Romania 41%, to the U.S. by 39%, to Russia by 67% and to Belgium by 23%. Considering market for private auto mobiles, exports to Italy dropped by 5 %, to France by 18 % and to Germany by 27 %, while exports to the U.S. soared by 100 %, to Belgium by 89 %, to Israel by 56 % and to Morocco by 100 %. As far as the export of motor vehicles for goods transport goes, exports to the U.K., the largest market, grew by 57 %, to France by 62 %, to Belgium by 34 % and to the Netherlands by 71 %, while exports to the U.S. fell by 10 % and to Slovenia by 11 % in this area.

The highest exports of 49% were carried out to Germany in the group of buses, minibuses and midi buses, while exports to France and Romania, the two other key markets, rose by 73 % and 69 %, respectively. On the other hand, exports to Italy and Hungary in this group declined by 33 % and 47%, respectively.