The Turkish automotive sector broke a new record with $14.3 billion in exports in the first half of this year. The sector, which closed the January-June periods with foreign sales of $10-$11.8 billion in recent years, left behind $13.6 billion achieved in the first half of 2008, when the all-time export record was broken with $24.7 billion.
According to Turkish Exporters Assembly (TİM) data, the automotive sector increased its exports, which was $11.7 billion during January-June period of 2016, by 22.4 percent to $14.3 billion in the same period of this year.
Having the largest share in Turkey's total exports with 18.8 percent, the automotive sector completed the first half of the year as a leader in exports by a landslide. The automotive sector was followed by the apparel sector with 10.7 percent, chemical materials and products with 10.4 percent and steel sector with 7.6 percent.
The automotive sector exported to 174 countries and autonomous regions as well as 12 free zones in this period.
16.4 PCT INCREASE IN JUNE
The automotive sector, which realized $2.1 billion in exports in June 2016, increased its exports by 16.4 percent to $2.5 billion in the same period of this year.
In the sector exports, on the other hand, the 36.8 percent increase in January was recorded as the highest rate of increase since August 2011 (66 months) on a monthly basis.
Increasing its foreign sales by 12.5 percent in February, the automotive sector reached $2.7 billion in foreign sales with an increase of 32.5 percent in March, thus reaching the highest export figure in its history on a monthly basis. The sector recorded an increase of 12.4 percent in April and 28.4 percent in May.
The sector, which closed the January-June periods with foreign sales of $10-11.8 billion in recent years, left behind $13.6 billion caught in the first half of 2008, when the all-time export record was broken with $24.7 billion, achieving $14.3 billion in exports in the first half of this year.
9 OF TOP 10 COUNTRIES FROM EU
Nine of the top 10 countries exported by the Turkish automotive sector once again consisted of European Union (EU) member countries.
Germany, which achieved $2.2 billion in exports during the January-June period with an increase of 12.52 percent, maintained its leadership, followed by Italy with an increase of 28.47 percent and $1.7 billion, the United Kingdom with an increase of 19.33 percent and $1.4 billion, France with an increase of 26.50 percent and $1.5 billion and Spain with an increase of 26.30 percent and $827.6 million.
The United States, Belgium, Poland, Slovenia and the Netherlands were also among Turkey's top export destinations.
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