The 4 billion dollar threshold was exceeded in automotive exports

According to the data of the Turkish Exporters Assembly (TİM), Türkiye's total exports increased by 5.5 percent in January-October compared to the same period of the previous year and reached 236 billion 836 million 700 thousand dollars.

In October, exports were recorded as 25.9 billion dollars, with an increase of 8.1 percent on a monthly basis. The automotive industry broke export records both monthly and in the 10-month period.

While the global automotive industry is going through a difficult period due to geopolitical developments, the rise in energy costs, changes in trade policies and the impact of competition in the electric vehicle market, Turkey continues to raise the bar in automotive exports.

Accordingly, the Turkish automotive industry reached an all-time high on a monthly basis, achieving an export of 4 billion 32 million dollars in October, with an annual increase of 5.9 percent.

At the same time, the sector broke its 10-month export record with exports of 35.2 billion dollars in the January-October period.

Exports of the automotive sector increased by 3.4 percent in the 10 months of the year compared to the same period of the previous year.

While the share of the automotive industry in total exports was calculated as 14.9 percent in the January-October period, its share on a monthly basis was 15.6 percent.

While the highest automotive exports in the 10 months of the year were to Germany with 5.7 billion dollars, this country was followed by France with 4.3 billion dollars, the United Kingdom with 3.3 billion dollars, Italy with 3.2 billion dollars and Spain with 2.7 billion dollars.

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)