Turkey’s Automotive Exports Reached 2.65 Billion Dollars

According to data announced by the Uludağ Automotive Industry Exporters’ Association (OIB), the Turkish automotive industry’s exports in October increased by 1.8% compared to the same month last year. In October 2022, Turkey exported $2.65 billion worth of automotive products to different countries around the world.

In the first ten months of 2022, Turkey realized exports worth 25 billion dollars in the automotive sector. These exports increased by 5% compared to the same period last year. Turkey’s average monthly exports in the automotive industry reached $2.5 billion. Besides, the share of the automotive sector in total exports increased by 12.4%. 

Supplier industry exports increased by 13%

The supplier industry is one of the most essential sub-product groups of the automotive sector. Turkey realized an export of 1 billion 69 million dollars in this sub-product group with an increase of 13%. This export in the supplier industry has been recorded as the largest product group in Turkey’s exports.

In other sub-groups of the automotive sector, there are tow trucks. The highest rate of export increase in Turkey is in the group of tow trucks. Turkey increased its exports by 95% in the tractor group in October 2022. The foreign exchange obtained from this export increased to 214 million dollars.

Countries Exported to in the Automotive Sector

In October 2022, Turkey made a significant export to Germany, the most important market of the automotive industry. Turkey exported 404 million dollars worth of commercial commodities to Germany, an increase of 15%. In addition, exports to the UK, Turkey’s second-largest market, increased by 9%. In October 2022, Turkey exported 285 million dollars to the UK in the automotive sector.  On the other hand, France imports 252 million dollars worth from Turkey in the automotive sector.

Significant increases were observed in European countries in October 2022 automotive exports. Exports increased by 32% to Belgium, 21% to Romania, and 79% to Portugal. In addition, there was a 23% increase in exports to Russia.

Significant Export Increases in the Automotive Sector

Uludag Automotive Industry Exporters’ Association Chairman of the Board Baran Celik made statements about Turkey’s exports in the automotive sector.

Çelik said, “Despite the contraction in the Eurozone, the increase in Turkey’s automotive exports continues. In October 2022, Turkey once again ranked first in sectoral exports on a monthly basis. The sub-product group that Turkey exports the most is the supply industry. Export growth values reached double digits in the supply industry, tractor trucks, buses, minibus-midibus exports to Germany, Belgium and Russia.”

Overview of Turkey’s Automotive Industry Exports in the First Nine Months of 2022

Turkey exported automobiles to 101 countries, autonomous regions and free zones in the first nine months of 2022. During this period, a total of 22 billion 325 million 73 thousand dollars worth of foreign sales were made. In addition, the share of automobiles in the automotive industry’s exports is 29.37%.

European Countries Top the List

The major export market of Turkey in the automotive sector is European countries. In this period, Turkey exported the most automobiles to France. In the first nine months of the year, exports to France amounted to 948 million 759 thousand dollars. The United Kingdom is second on the list.  Turkey increased its exports to the UK by 35.5% compared to the same period of the previous year. Also, the foreign exchange that Turkey obtained from these exports reached 803 million 58 thousand dollars.

A total of 1 billion 751 million 818 thousand dollars worth of foreign currency of automobiles were exported to France and the United Kingdom. Besides, these exports accounted for 26.71% of foreign sales.

Spain ranks third on the list. Spain imported vehicles worth 635 million 299 thousand dollars from Turkey. In the first 9 months of 2022, Turkey exported automobiles worth 592 million 111 thousand dollars to Italy, ranked fourth, and 538 million 113 thousand dollars to Germany, ranked fifth.

Furthermore, 456 million 392 thousand dollars worth of automobiles were exported to Poland, ranked sixth in the list, and 302 million 386 thousand dollars to Slovenia, ranked seventh. Thus, 7 of the top 10 markets in Turkey’s automobile exports were the EU countries.

The Automotive Sector was the Export Leader of 2021

Turkey realized exports worth 29 billion 342 million 794 thousand dollars in the automotive sector in 2021. With these export figures, the automotive industry ranked first in Turkey’s exports. Exports in the automotive sector have been in the leading position for 16 years.

The export average of the automotive industry in 2021 is $2.45 billion. On the other hand, the sub-sector with the highest amount of exports based on product group was the supplier industry with an export value of 11 billion 803 million dollars. The supplier industry accounts for 40.2% of all automotive exports.