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- October 13, 202617°
- BIST10012,151-0.94%
- USD49.34+0.24%
- EUR55.21-0.01%
- GOLD4,191.30+0.02%
- INTEREST37.00%-1.00
- BITCOIN81,995+0.29%
- October 13, 202617°
Turkey’s automotive exports reach $3.586 billion in July
Turkey’s automotive exports totaled $3.586 billion in July, while the sector’s foreign sales reached $24.4 billion in the first seven months of the year. European Union countries were the sector’s largest export market in July, accounting for 71% of exports.
Turkey’s automotive exports totaled $3.586 billion in July. The sector maintained its leading position, accounting for 14% of Turkey’s total exports.
Total automotive exports reached $24.4 billion in the January-July period.
Supply industry ranks first
The supply industry, the sector’s largest product group in July, exported $1.390 billion. Its foreign sales reached $9.473 billion in the January-July period, accounting for 38.8% of total automotive exports.
Passenger car exports totaled $1.024 billion in July. Exports of motor vehicles for transporting goods amounted to $588 million, while bus, minibus and midibus exports totaled $262 million. Tractor exports reached $197 million.
Foreign sales by sectors listed under “other” in automotive exports totaled $125 million in July.
Germany is the largest market
Germany was the top destination for automotive exports in July, with $602 million. France ranked second with $411 million, followed by the United Kingdom with $400 million.
By country groups, European Union countries maintained their leading position in July, with exports of $2.537 billion and a 71% share. Exports to EU countries reached $18.119 billion in the January-July period, accounting for 74% of the total.
Cost and competitive pressures in the sector
OİB Chairman Kemal Yazıcı said the sector’s exports totaled approximately $3.6 billion in July. Yazıcı added that exports reached $24.4 billion in the January-July period.
Yazıcı said exports had continued despite the long-standing imbalance between the increase in the euro-Turkish lira exchange rate and inflation, as well as uncertainty in the global economy, mounting cost pressures and intense competition.
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