Turkish automotive sector breaks export record in the first eight months of the year
The Turkish automotive industry achieved its highest eight-month export level of all time, reaching $27.2 billion in foreign sales during the January-August period.
Despite uncertainties in global trade and supply chain disruptions, the Turkish automotive industry achieved historic success in the first eight months of the year. Growing by 2.5 percent compared to the same period of last year, the sector realized $27.2 billion in foreign sales during the January-August period.
Highest Eight-Month Export Level of All Time
The Turkish automotive industry reached its highest 8-month export figure of all time with the momentum it gained in the first eight months of the year. The sector recorded a growth rate of 2.5 percent despite challenges in global markets.
Turkish Exporters Assembly Data and the Sector's Share
According to data from the Turkish Exporters Assembly, the country's total exports reached $185 billion. Within this total, the automotive sector's share was recorded at 14.7 percent, while August exports increased by 8.1 percent to reach the level of $23.5 billion.
Germany and France Ranked First in Exports
Exports to Germany, the sector's largest market, ranked at the top with $4.4 billion. Germany was followed by France with $3.3 billion, the United Kingdom with $2.5 billion, Italy with $2.4 billion, and Spain with $2.2 billion.
France and Italy Stand Out in Growth Rate
Automotive exports to France increased by $338.2 million compared to the same period of last year. While a $318.2 million increase was recorded in sales to Italy, exports to the Netherlands increased by $148.3 million, to Germany by $105.6 million, and to Poland by $60.7 million.
Kocaeli Ranks First in Distribution by Provinces
In the distribution of automotive exports by provinces, Kocaeli held the central position with $8 billion in foreign sales. Kocaeli was followed by Bursa with $6.3 billion, Istanbul with $5.6 billion, Sakarya with $2.9 billion, and Ankara with $1.3 billion.
Fluctuations and Changes in Main Markets
According to Turkish Exporters Assembly data, periodic fluctuations were observed in main markets. While exports to the United Kingdom declined by 9.1 percent, sales to Italy increased by 15 percent and to France by 11.4 percent; the decline in the Romanian market reached 14.3 percent.