Au­to­mo­tive sec­tor in­creases num­ber of ex­port mar­kets with sales ex­ceed­ing $1B

Daily Sabah (Turkey) - - Money -

DE­SPITE shrink­age in the do­mes­tic mar­ket, the Turk­ish au­to­mo­tive in­dus­try hit an all-time high in ex­ports be­fore year-end and in­creased the num­ber of coun­tries to which it ex­ports more than $1 bil­lion worth of goods to eight in the first 11 months of this year.

The au­to­mo­tive in­dus­try ex­ported to Ger­many, Italy, France, the U.K., Spain, Bel­gium, Slove­nia and Poland, vary­ing be­tween $1.04 bil­lion and $4.42 bil­lion.

Un­like the same pe­riod last year, the U.S. mar­ket fell short of be­com­ing one of the coun­tries where $1 bil­lion or more worth of ex­ports were car­ried out to, while Slove­nia and Poland sur­passed this level for the first time.

Ac­cord­ing to in­for­ma­tion com­piled from the Au­to­mo­tive In­dus­try Ex­porters’ As­so­ci­a­tion (OİB) and the Turk­ish Ex­porters Assem­bly (TİM), the Turk­ish au­to­mo­tive sec­tor ex­ported to 182 coun­tries and au­ton­o­mous re­gions and 12 free trade ar­eas, with de­vel­oped West­ern coun­tries tak­ing the lead, on five con­ti­nents from Jan­uary to Novem­ber this year.

The in­dus­try hit around $29.1 bil­lion in ex­ports in the first 11 months of the year. In do­ing so, it sur­passed the ex­port record of $28.5 bil­lion reached in 2017, one month be­fore year-end.

From Jan­uary to Novem­ber, $22.79 bil­lion of to­tal au­to­mo­tive ex­ports, cor­re­spond­ing to 78.32 per­cent of all au­to­mo­tive ex­ports, were made to EU coun­tries that are the largest trade partners of Turkey.

While Turkey’s over­all au­to­mo­tive ex­ports in­creased by 11.74 per­cent in the 11-month pe­riod, the growth rate in the EU mar­ket reached 13.13 per­cent.

From Jan­uary to Novem­ber, the Turk­ish au­to­mo­tive in­dus­try ex­ported goods worth $1 bil­lion or over to eight EU coun­tries, con­sti­tut­ing 62.73 per­cent ($18.25 bil­lion) of all au­to­mo­tive ex­ports.

In the same pe­riod, Ger­many re­mained the largest mar­ket for the Turk­ish au­to­mo­tive in­dus­try, reach­ing $4.413 bil­lion, a 9.57 per­cent rise, fol­lowed by Italy with nearly $3.1 bil­lion, a 7.41 per­cent rise, France with $2.96 bil­lion, a 11.01 per­cent rise, the U.K. with around $2.69, a 6.32 per­cent rise, Spain with $1.66 bil­lion, a 10.51 per­cent rise, and Bel­gium with nearly $1.35, a 19.81 per­cent rise.

Mean­while, Slove­nia and Poland’s im­ports from the Turk­ish au­to­mo­tive in­dus­try ex­ceeded $1 bil­lion for the first time this year, with the for­mer amount­ing to nearly $1.1, a 33.52 per­cent rise, and the lat­ter amount­ing to $1.04 bil­lion, a 23.99 per­cent rise.

Au­to­mo­tive in­dus­try ex­ports to the U.S., one of the top 10 mar­kets in this re­gard, stood at $996.63 mil­lion, a 23 per­cent fall, from $1.29 bil­lion in the same pe­riod last year.

Ulu­dağ Au­to­mo­tive In­dus­try Ex­porters’ As­so­ci­a­tion Chair­man Baran Çe­lik was cited by Anadolu Agency (AA) as say­ing that the Turk­ish au­to­mo­tive in­dus­try ex­ported $1 bil­lion or more worth of goods to seven coun­tries - Ger­many, France, Italy, the U.K., Spain, the U.S. and Bel­gium - in 2017.

Ac­cord­ing to Çe­lik, in 2017, over $900 mil­lion in ex­ports were made to Poland and Slove­nia, which ap­proached the thresh­old of $1 bil­lion last year. This year, the high rate of in­crease in ex­ports to Poland and Slove­nia led to a rise in the num­ber of coun­tries that were ex­ported more than $1 bil­lion in the first 11 months to eight. From Jan­uary to Novem­ber, au­to­mo­tive sub-in­dus­try ex­ports to Poland in­creased by 24 per­cent and tow truck ex­ports to the same coun­try in­creased by 246 per­cent. In the same pe­riod, the ex­port of mo­tor ve­hi­cles for good trans­porta­tion to Slove­nia and pri­vate cars went up by 32 per­cent and 42 per­cent, re­spec­tively.

Çe­lik em­pha­sized that the 60 per­cent de­cline in the ex­port of pri­vate cars to the U.S., which re­mained out of the top 10 mar­kets in the 11-month pe­riod, led to a fall in over­all au­to­mo­tive ex­ports to this coun­try, adding: “How­ever, our au­to­mo­tive ex­ports to the U.S. have reached $997 mil­lion in 11 months, in­di­cat­ing that the year will be close with an ex­port fig­ure above $1 bil­lion. So, the num­ber of coun­tries to which ex­ports of $1 bil­lion dol­lars or more in the au­to­mo­tive in­dus­try will be nine at the end of the year. The Nether­lands and Ro­ma­nia are the coun­tries that will near the $1 bil­lion thresh­old this year. There­fore, 11 coun­tries will have the po­ten­tial to be in­cluded in this list in 2019.”

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