Featuring leader of the Turkish exports for the 12th consecutive year in 2017, the Turkish automotive sector has also exceeded foreign trade surplus with $5,8 billion in the first 9 months of 2017 that was $5,5 billion in 2008
Turkish automotive industry yielded foreign trade surplus worth $5,8 billion in the first 9 months of 2017. Accounting for nearly one-fifth of the Turkish exports only and so, the sector characterized as the locomotive of exports, the automotive sector has yielded trade surplus worth $5,8 billion in the first nine months of 2017. With this figure the sector has exceeded its foreign trade surplus record which was $5,5 billion in 2008 in terms of foreign trade surplus 3 months earlier.
Orhan Sabuncu, Chairman of Uludag Automotive Industry Exporters Association (OIB), in his statement said having broken all-time record in the exports as of 17th November 2017, the automotive sector exports would exceed the exports figure which was set as $27 billion at the beginning of the year 2017 with over $28 billion.
Turkish automotive industry yielded foreign trade surplus worth $17 billion within last 11 years except the year 2017. These are very pleasing figures. In the chapter that we call it as 87th Chapter yields foreign trade surplus in terms of difference between all imported vehicles, spare parts or goods and all exported vehicles, supplier industry goods. There is surplus in the last consecutive 11 years,” Sabuncu said.
Reminding rising of foreign currency rates in a moderate level was positive in the aspect of exporters, but extra fluctuation urged to increase of the imported inputs, Sabuncu concluded; “The automotive exports are made via Euro currency in the rate of 85%. But this is converted to dollar when the sector exports are announced. When parity between euro and dollar decrease our exports also decrease as figure, as long as the scissors expand between these two currencies the export figure increases too.”
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