Automotive Exports Surge 17 Percent In February

automotive-exportMaintaining its leading position in the Turkish exports, the automotive industry has also contributed growth of the overall exports in which play a leading role

Playing a leading role in the Turkish exports, the automotive industry achieved exports worth $1 billion 985 million in February with 17 percent rise. The automotive sector has also achieved its highest level in February by getting 18 percent share in the Turkey’s whole exports with respect to the sectors. Pointing out they had displayed the best February performance of recent years, Orhan Sabuncu, head of Uludag Automotive Industry Exporters Association (OIB), said the EU countries’ share in the exports had reached high level ever with 81 percent. The locomotive sector of the Turkish exports, the automotive industry has also contributed overall export increase by maintain its leading position in the exports. As the Turkish exports became $10 billion 790 million increasing 3 percent, the automotive industry realized $1 billion 985 million worth of exports with 17 percent expansion in February. The automotive industry achieved both the highest export rate since 2008 when the global economic crisis experienced and reached the highest rate in the Turkish exports with 18.4 percent in recent years. The OIB chairman Orhan Sabuncu highlighted the sector, which set an export target of $23 billion for the yearend, also showed the best performance of recent years in February. Stating the share of the EU countries from the Turkish automotive sector exports had reached by 81 percent featuring the highest rate ever, Sabuncu emphasized the increase up to 48 percent was recorded in the countries like Germany, the UK, France, Italy and Spain to which the sector exports mostly shipped. Sabuncu said, “In the export increase directed towards Germany stemmed from increase 9 percent in supplier industry, 26 percent in passenger cars and 41 percent in bus-midibus-minibus exports.” Increase in the commercial vehicle surged 36% According to the data in February, increases were gained up to 36 percent in product-base. Getting 38 percent share from the industrial exports, the automotive supplier industry achieved 11 percent increase in its exports with $761 million. The passenger cars which have 29 percent share, exported the goods with 3 percent increase totaling $583 million. The exports of special purpose vehicles, which have 23 percent share in the industrial exports, recorded 36 percent increase with $467 dollar, the bus-minibus-midibus exports became $127 million with 32 percent rise.

Double digit increase in the biggest markets
The export increase to Germany, the biggest market of Turkish automotive industry, also continued in February following January. The sector exports became $339 million increasing 32 percent to Germany, 5% increase totaling $236 to the UK, 11% increase totaling $215 million to France, 48% increase totaling $195 million to Italy, 12 % increase totaling $125 million to Spain. The exports to the target markets increased 172% to the Netherlands, 15% to Belgium respectively and but 33% decrease to Russia in February. In the sector exports, the biggest share was gained in the EU countries in February.

#automotive #automotiveexports #Turkishexports

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