The automotive industry, which has been the leader of the Turkish economy for 11 years in a row, has achieved an all-time high record one month before the end of the year. Uludağ Automotive Industry Exporters Association (OİB) Chairman Orhan Sabuncu said the automotive industry broke a new export record with $26 billion in the first 11 months of the year, surpassing its record of $24.7 billion achieved in 2008. The sector's exports grew by 21 percent compared to last year, and is poised to be the export champion for the 12th time in a row. According to OİB data, the automotive industry's exports amounted to $2.6 billion in November, up 17 percent from the same period last year.
November automotive exports securing $2.6 billion is the sector's second highest monthly figure in its history, following $2.7 billion in exports last March. The industry carried out exports of more than $2 billion on a monthly basis, with the exception of August 2017, and achieved a monthly average export figure of $2.4 billion. The sector constituted 19.4 percent of Turkey's overall exports in November.
According to Sabuncu, export growth in all primary commodity groups took place in double digits in private cars, sub-industry and motor vehicles for goods transport in November. Exports to Germany, which remains the largest market for the industry, soared by 3 percent and to the U.S. by 145 percent. The export of private cars and the export of sub-industry products by 100 percent and 39 percent respectively had an impact on the increase in exports to the U.S.
The Turkish automotive industry's private car exports soared by 13 percent to $1.077 billion among other commodity groups in November, while the automotive sub-industry exports surged by 22 percent to $905 million. Also, the exports of motor vehicles for goods transport reached $471 million, with a 21 percent increase and the exports of buses, minibuses and midibuses increased by 3 percent to $136 million in the same month.
Exports to Germany, the largest market for the automotive sub-industry, increased by 19 percent. As far as other key markets go, exports to Italy rose by 16 percent, to Romania by 41 percent, to the U.S. by 39 percent, to Belgium by 23 percent and to Russia by 67 percent.
In terms of key markets for private automobiles, exports to Italy dropped by 5 percent, to France by 18 percent and to Germany by 27 percent, while exports to the U.S. soared by 100 percent, to Belgium by 89 percent, to Israel by 56 percent and to Morocco by 100 percent. As far as the export of motor vehicles for goods transport goes, exports to the U.K., the largest market, grew by 57 percent, to France by 62 percent, to Belgium by 34 percent and to the Netherlands by 71 percent, while exports to the U.S. fell by 10 percent and to Slovenia by 11 percent in this area.
In the group of buses, minibuses and midibuses, the highest exports of 49 percent were carried out to Germany, while exports to France and Romania, the two other key markets, rose by 73 percent and 69 percent, respectively. On the other hand, exports to Italy and Hungary in this group declined by 33 percent and 47 percent, respectively.
Exports to the U.S. up 145 percent
Germany, which is the largest market on a country basis, took the first place in exports in November. Automotive exports to Germany rose 3 percent to $376 million. Exports to Italy, the second biggest market, stood at $ 283 million, while exports to France increased by 6 percent to $263 million.
Among key markets, exports to the U.K. soared by 21 percent and to the U.S. by 145 percent. The rise in the exports of private automobiles by 100 percent and of sub-industry by 39 percent had an impact on the rise of exports to the U.S. Also, the rise in the exports of motor vehicles for goods transport by 57 percent and of automotive sub-industry by 10 percent affected the growth of exports to the U.K.
Meanwhile, exports to Belgium, Poland, the Netherlands and Romania grew by 51 percent, 27 percent and 31 percent, respectively, while exports to Portugal decreased by 25 percent.
Exports to EU countries, the largest market, with a 76 percent share of the Turkish automotive industry, increased by 12 percent in November, to $2 billion. Exports to the North American Free Trade Zone, an alternative market, increased by 105 percent in November. Exports to the Middle East and the Commonwealth of Independent States rose by 19 percent each, and to African countries by 22 percent in the same month.
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