Do­mes­tic au­to­mo­tive ex­ports to US soar 101 pct in first 9 months of 2017

Daily Sabah (Turkey) - - Business -

EX­PORTS by the Turk­ish au­to­mo­tive in­dus­try to the U.S. saw a 101.18 per­cent in­crease in the first nine months of the year. The sec­tor’s ex­ports to the U.S. amounted to $480.8 mil­lion from Jan­uary to Septem­ber last year, jump­ing to $967.2 mil­lion in the same pe­riod this year. The steep in­crease in the U.S. mar­ket made it the sixth-largest au­to­mo­tive mar­ket for Turk­ish ex­ports, which for­merly ranked 10th.

Ac­cord­ing to data com­piled by the Ulu­dağ Au­to­mo­tive In­dus­try Ex­porters’ As­so­ci­a­tion (OİB), au­to­mo­tive in­dus­try ex­ports to 180 coun­tries and au­ton­o­mous re­gions in five coun­tries as well as 12 free trade zones.

In the first nine months of this year, au­to­mo­tive ex­ports to­taled $20.7 bil­lion, and $16.1 bil­lion of it was gen­er­ated from ex­ports to Euro­pean Union coun­tries. Ac- count­ing for 77.7 per­cent of to­tal au­to­mo­tive ex­ports, 27 EU mem­ber coun­tries pre­served their dom­i­nance in the ex­port mar­ket. Ex­ports to the re­main­ing 153 coun­tries amounted to $4.6 bil­lion.

The au­to­mo­tive in­dus­try’s sales to Ger­many saw a 13.7 per­cent in­crease in the first nine months of the year to $3.2 bil­lion, mak­ing the coun­try the top mar­ket.

Ger­many was fol­lowed by Italy, where au­to­mo­tive ex­ports rose 21.08 per­cent and gen­er­ated rev­enue of $2.3 bil­lion. France saw a 19.75 rise in au­to­mo­tive im­ports from Tur­key, which amounted to $2.2 bil­lion. The U.K. and Spain were other ma­jor mar­kets for the do­mes­tic au­to­mo­tive in­dus­try with a 26.31 and 26.32 per­cent in­crease, re­spec­tively, val­ued at $2.8 bil­lion and $1.2 bil­lion.

While nine of the 10 coun­tries that are ma­jor ex­port mar­kets for the au­to­mo­tive in­dus­try were EU coun­tries, the ex­cep­tion was the U.S. Ac­cord­ingly, the U.S. be­came the sixth largest mar­ket for Turk­ish au­to­mo­tive ex­ports.

OİB Chair­man Orhan Sabuncu said that the EU has al­ways been the most prom­i­nent mar­ket for Tur­key’s au­to­mo­tive ex­ports. He ex­plained that 78 per­cent of ex­ports from Jan­uary to Septem­ber were sales to the EU mar­ket. “Every $78 out of $100 in au­to­mo­tive ex­ports came from the EU, and nine of the top-10 ex­port mar­kets were EU coun­tries. The sec­tor’s sales to the union saw a 20 per­cent in­crease in the first nine months and to­taled $16.1 bil­lion,” Sabuncu said.

Sabuncu said this rise in ex­ports to one of the most im­por­tant cen­ters of global au­to­mo­tive pro­duc­tion has pleased the in­dus­try.

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