AUTOMOTİVE

Turkey's automotive exports to US double in 2017

Overall, Turkey's automotive exports have risen by 21.6 percent to more than $20B during first 9 months of 2017

Anadolu Agency

Turkey's automotive exports rose by 21.6 percent to $20.77 billion while exports to the U.S. doubled to $967.28 million, showing an increase of 101.18 percent year-on-year in the first nine months of 2017, exporters said Monday.

Uludag Automotive Industry Expoters' Association (OIB) announced that 77.7 percent of total automotive exports --$16.14 billion-- were made to 27 countries in the EU, which is Turkey's largest trade partner.

The association emphasized that exports to the U.S. were $480.81 million during the same period last year.

The sector exported to 180 countries and self-governing territories, and 12 free zones across five continents, mainly in Western countries, OIB's data showed.

Turkey's automotive exports to 153 countries outside the EU were $4.63 billion, while the country did not export to Southern Cyprus, which is an EU member.

During the January-September period, Germany ranked first among countries in Turkey's automotive export list with $3.23 billion exports, which is increase of 13.7 percent, year-on-year.

Italy came in next with $2.31 billion, France with $2.11 billion, the U.K. with $2.08 billion and Spain with $1.23 billion.

While nine of the top 10 countries that exported the most in the period were from the EU , the only exception was the U.S. that came in at sixth place.

"Exports to EU countries increased by 20 percent to $16.1 billion," Orhan Sabuncu, chairman of the association, told Anadolu Agency.

Sabuncu said: "$78 of every $100 income from automotive exports comes from EU countries."

He added that he was glad with exports to the U.S., which is one of the most important centers of the automotive industry in the world.

Turkey's total exports reached $114.66 billion between January to September of 2017, according to Turkish Exporters Assembly's (TIM) data.

TIM said total exports to the U.S. rose 36.50 percent to $667.67 million in September and 26.44 percent to $5.96 billion, year-on-year, in the first nine months of 2017.

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