Turkey: Automotive exports hit record high in Q1

04 Nisan 2017

 

 

 

 

 

Turkey’s automotive sector hit a record high exports in the first quarter of 2017, according to Turkish Exporters’ Assembly (TIM) data.

The data compiled by Anadolu Agency showed that the country’s automotive sector exports reached their highest level of $7.12 billion between January and March this year from $5.54 billion in the same period last year.

Exports of the sector obtained the largest share with 18.9 percent of Turkey’s total exports, while chemicals and the apparel sector followed with 11.1 percent and 11 percent respectively during the same period.

Meanwhile in March, the automotive sector exports soared 32.5 percent month-on-month, the highest monthly increase in its history, to reach over $2.7 billion, according to the data.

The data also showed that nine out of 10 countries to which Turkey exported automotive products the most were European Union members.

Automotive exports to Germany, the biggest automotive importer from Turkey, advanced by 11.52 percent year-on-year to reach almost $1.1 billion in the first quarter of the year.

It was followed by Italy with a 44.25 percent rise to $816.9 million and the UK with a 19.94 percent increase to $779.9 million, read the data.

 

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