Türkiye’s automotive exporters have achieved their highest January-September gross sales ever, based on {industry} knowledge, pushed by shipments to the European Union and the United Kingdom.
The {industry} noticed a 5.3% improve in exports within the first 9 months to $26.9 billion, knowledge compiled from the Turkish Exporters Assembly (TIM) confirmed. In September alone, the sector’s gross sales surged by 20.9% year-over-year to $3.4 billion.
The automotive {industry}’s share of Türkiye’s whole exports price $192.8 billion stood at 16.2% for the January-September interval.
Breaking down the sector’s exports, the principle automotive {industry} contributed $15.7 billion, whereas the sub-industry accounted for $11 billion.
Germany leads, U.Okay. sees sharp improve
Germany remained the highest export vacation spot, having obtained $3.6 billion price of Turkish automotive merchandise, the info confirmed. The United Kingdom adopted with $3.2 billion, and France with $3 billion. Italy and Spain rounded out the highest 5, with $2.5 billion and $1.8 billion, respectively.
The United Kingdom noticed the most important progress in Turkish automotive exports, with a rise of $796.7 million. Other markets experiencing important progress have been Romania ($220.4 million), Italy ($220 million), Slovenia ($212.9 million), and the United States ($125.6 million).
In whole, gross sales to Slovenia reached $1.2 billion, to the U.S. $886 million, and to Romania $819.7 million.
On a provincial degree, Kocaeli led the cost in automotive exports with $6.9 billion in gross sales in the course of the first 9 months of the yr. Istanbul adopted with $6.1 billion, Bursa with $5.3 billion, Sakarya with $4.1 billion, and Ankara contributed $1.1 billion.
Post-pandemic rebound
Türkiye automotive exports have considerably recovered from the pandemic-related downturn.
In 2019, the sector’s exports had dropped by 3.7% to $22.5 billion, adopted by a pointy 24% decline in 2020 to $17.1 billion. However, the {industry} rebounded in 2021 with a 24% improve, reaching $21.2 billion within the first 9 months.
In 2022, as pandemic results started to wane, exports continued their upward development, rising by 5.1% to $22.3 billion. The following yr noticed a 14.8% rise to $25.6 billion.
Source: www.dailysabah.com