Türkiye's automotive exports have surged nearly 15% to reach $23.8 billion (TL 967.83 billion) in the first seven months of this year, as the country's leading sector has managed to maintain its edge despite growing trade uncertainty.
Exports from the sector rose by 14.5% to $23.82 billion year-over-year in the January-July period, according to a Saturday report by Anadolu Agency (AA), citing industry data.
Its share in total exports was meanwhile calculated at 15.2%.
From January through July, the country's total shipments reached $156.4 billion, representing a 5.2% increase compared to the same period a year earlier. In July alone, exports rose by 11% compared to the same month of the previous year, reaching $25 billion.
During this period, the automotive sector, recognized as one of the leading industries and often referred to as the "locomotive" powering the Turkish economy, performed positively, despite global tensions.
U.S. protectionist policies, which have shaken the global trade order, have caused significant damage to major automakers worldwide in recent months, with many attributing losses to tariffs that often amount to hundreds of millions of dollars.
Last month, the U.S. administration signed a trade agreement with Japan that reduced customs duties on car imports to 15%. It is expected to finalize a trade deal with the European Union, which would apply a 15% import tariff on most of the union’s products. Additionally, talks are underway for a possible agreement with South Korea to reduce tariffs to 15%.
These agreements reduce uncertainties in the production planning of companies in critical sectors, such as automotive, while variable expectations for the future also impact investment strategies.
While global growth expectations weaken worldwide, Türkiye's ability to sustain export growth is seen as an indicator of economic resilience. The effective use of trade diplomacy and the innovative transformation of sectors are bringing the country closer to its goal of becoming a regional production and export hub in 2025.
Accordingly, the data from the Turkish Exporters Assembly (TIM) indicated that the automotive sector's exports increased to $23.8 billion.
During the January-July period, the highest automotive exports were made to Germany, with $3.8 billion, according to the data. This country was followed by France with $2.7 billion, the U.K. with $2.5 billion, Spain with $2 billion, and Italy with $1.9 billion.
At the same time, Germany also led in export value increases. During this period, the automotive sector's exports to Germany rose by over $1 billion, according to the data. Spain followed with an increase of $555 million, Slovenia with $465.2 million, France with $331.4 million and Romania with $265.7 million.
European market, due to its proximity and strong automotive industry presence, particularly in countries such as Germany, France and Italy, is known as the top destination for Turkish exports.
The automotive sector also exported $1.3 billion worth of goods to Slovenia and $879 million to Romania.
By province, the highest automotive exports during this period were from Kocaeli with $7.4 billion. Bursa followed with $5.1 billion, Istanbul with $5.07 billion, Sakarya with $2.6 billion and Ankara with $942.9 million in automotive exports.
