Turkish auto exports grew by 77 percent over the first five months of 2017 reaching $5.69 billion, the country's Automotive Manufacturers Association (OSD) said Thursday.

According to the OSD's statement, during the period between January and May 2017 overall automotive production grew by 22 percent and reached 728,000 units, while vehicle production increased by 41 percent and 507,000 units compared to last year's volumes.

Over the course of the January-May period, the overall market shrank by 9 percent to 325 thousand units, while the automobile market shrank by 10 percent falling to 240 thousand units.

This period also saw a 6 percent decrease in production of commercial vehicles, 7 percent – in light commercial vehicles, 12 percent – in heavy commercial vehicles. As a result, the market for commercial vehicles shrank by 4 percent, for the light commercial vehicles by 3 percent and for heavy commercial vehicles by 19 percent.

Compared to the previous year, automotive exports rose by 32 percent reaching 598,000 units, while vehicle exports grew by 54 percent to 425,000 units.

The U.S. dollar-based automotive exports increased by 23 percent, and the euro-based exports by 28 percent.

Total automotive exports amounted to $12.4 billion, while auto exports grew by 77 percent to reach $5.69 billion.

European based vehicle exports rose by 84 percent to 4.72 billion euros.