Auto in­dus­try con­sti­tutes 21 pct of all ex­ports in March

Daily Sabah (Turkey) - - Front Page -

THE LO­CAL au­to­mo­tive in­dus­try is be­com­ing the en­gine of growth for Tur­key’s ex­ports, rep­re­sent­ing 21 per­cent of all ex­ports in March, and 20 per­cent of ex­ports in the first quar­ter, ac­cord­ing to the fig­ures re­leased yes­ter­day.

ONE of the driv­ing forces of Tur­key’s econ­omy, the au­to­mo­tive in­dus­try has cov­ered 21 per­cent of the coun­try’s over­all ex­ports in March and 20 per­cent of over­all ex­ports in the three-month pe­riod of this year, ac­cord­ing to Au­to­mo­tive Man­u­fac­tur­ers As­so­ci­a­tion (OSD) data yes­ter­day.

Au­to­mo­tive ex­ports reached $8.376 bil­lion in the first quar­ter of the year, cor­re­spond­ing to 20 per­cent of Tur­key’s over­all ex­ports. Mean­while, de­spite the de­cline in the num­ber in March, au­to­mo­tive ex­ports hit a record high at $3 bil­lion for the first time due to the ex­change rate ef­fect.

Ac­cord­ing to OSD data for the Jan­uary-March pe­riod, al­though au­to­mo­tive ex­ports de­clined in num­ber in March, they ex­ceeded $3 bil­lion be­cause of the de­pre­ci­a­tion of the Turk­ish lira against the dol­lar, hit­ting a his­toric record at $3.198 bil­lion. The au­to­mo­tive ex­ports fell by 4 per­cent com­pared to last March at 130,320 units, while au­to­mo­bile ex­ports de­clined by 9 per­cent at 87,525 units.

To­tal pro­duc­tion reached 425,183 in the first three months of 2018, main­tain­ing the same level when com­pared to the same pe­riod last year. Also, au­to­mo­bile pro­duc­tion de­clined by 5 per­cent at 285,168. In the same pe­riod, the to­tal do­mes­tic mar­ket achieved a rise of 2 per­cent at 163,358, while the au­to­mo­bile mar­ket in­creased by 5 per­cent at 122,310.

To­tal ex­ports in Jan­uary to March de­clined by 3 per­cent at 344,257 units, while au­to­mo­bile ex­ports fell by 8 per­cent at 234,889 units when com­pared to the same pe­riod last year. Ex­ports rose to $8.376 bil­lion this year from $7.094 bil­lion in the same pe­riod last year.

A to­tal of 140,000 com­mer­cial ve­hi­cles were pro­duced in the Jan­uaryMarch pe­riod, mark­ing a 13 per­cent up­surge.

OSD Chair­man Hay­dar Yenigün said the pro­duc­tion and ex­ports of com­mer­cial ve­hi­cles were the most im­por­tant fac­tors that drove the au­to­mo­tive in­dus­try fur­ther, adding that the 9 per­cent in­crease in com­mer­cial ve­hi­cle ex­ports largely cov­ered the au­to­mo­bile-re­lated de­cline just as in pro­duc­tion. Point­ing to the shrink­age in the com­mer­cial ve­hi­cle mar­ket since 2015, Yenigün noted, “Com­mer­cial ve­hi­cles in the do­mes­tic mar­ket are quite far from the point where they have to reach. For this rea­son, ur­gent mea­sures must be taken es­pe­cially for the re­vival of the heavy com­mer­cial ve­hi­cle mar­ket.”

Newspapers in English

Newspapers from Turkey

© PressReader. All rights reserved.