The engine of Turkey’s foreign sales, the automotive industry boosted its exports by 56.5% in May, data showed, as the rebound maintained pace following the fallout of the coronavirus outbreak.
Exports in the month came in at around $1.9 billion (TL 16.47 billion), according to the Uludağ Automotive Industry Exporters Association (OIB) Sunday.
Sales from January through May were up 37% to $12 billion, the data showed, marking an average monthly sale of $2.4 billion.
The surge last month came despite the nation’s strictest lockdown yet and a global semiconductor shortage that has been plaguing global automakers, forcing many to halt output.
“The fact that many companies in the main industry had to suspend production due to the semiconductor chip problem, plus the full lockdown measures and a holiday, have led to the May sales coming in below the monthly average,” said OIB Chairperson Baran Çelik.
The supply industry saw its exports increase by 105% to $925 million last month, the data showed.
Sales of passenger cars were up 44% year-on-year to $682 million. Exports of motor vehicles for transporting goods were down 33% year-on-year to just $98 million, while bus-minibus-midibus sales surged 26% to $92.5 million.
The data showed the supply industry’s exports to its main market, Germany, surged 146%. Sales to other markets, including Italy, France and the U.S. also posted noteworthy rises with 169%, 113% and 225%, respectively.
Russia, the U.K. and Spain also received 139%, 225% and 169% more of the supply industry’s goods compared to a year ago.
Passenger car exports to France registered a 66% rise, while sales to Italy, the U.S. and Egypt increased by 160%, 537% and 279%, respectively, the data showed.
Germany received $318 million worth of Turkish automotive goods, a 75% year-on-year increase.
Automotive exports to France increased by 67% to $241 million, while the same figure was up 92% to $133 million in Italy.
Exports to the U.K., Spain, Poland, the U.S. and Russia also posted increases of 43%, 51%, 113%, 373% and 120%, respectively.
Sales to Egypt and Israel were also up 134% and 61%, the data showed.
European Union countries received 66% (nearly $1.24 billion) of Turkish automotive exports in the month. Sales increased 47% from a year ago.
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