Turkey Earns $28.5b From Automotive Exports

Turkey’s automotive industry exports surged 19.5% to $28.53 billion in 2017, compared to the previous year, automotive exporters said Sunday, Anadolu Agency reported. The exports rose 6% to $2.49 billion in December, Uludag Automotive Industry Exporters’ Association stated. The share of the automotive industry in the total exports of the country was 18% in 2017. The monthly average for the industry was $2.4 billion in the year. Exports to Germany, Turkey’s largest market in the automotive field, were $4.36 billion during the January-December period of 2017, increasing 10% compared to the same period in 2016. Italy and France followed Germany with $3.14 billion and $2.91 billion, respectively. Seventy-seven percent of the country’s total automotive exports were made to EU countries amounting to $22 billion, rising 17% during the same period. Turkey’s exports to North American Free Trade Area soared 87% to $1.64 billion in 2017 compared to previous year’s $877.06 million.