Turkish automotive exports top $30 billion mark

Türkiye’s automotive sector has achieved a significant milestone, surpassing $30 billion in foreign sales by the end of this year’s 10-month period.

This represents a 6.5% increase from the same period in 2023, when export volumes reached $28.6 billion. 83% of the total exports, $25.3 billion, were directed to Europe.

According to data compiled from the Turkish Exporters Assembly (TIM), Germany ranked as the top European partner, with $4 billion in exports from Türkiye, followed by the United Kingdom with $3.5 billion, France with $3.4 billion, Italy with $2.7 billion and Spain with $2 billion.

The United Kingdom led export growth with an increase of $863 million, followed by Slovenia at $292.7 million, Romania at $261.4 million, Italy at $224.4 million, and the United States at $135.4 million. Serbia saw the highest proportional growth, with an impressive 97.9% rise from 2023.

Outside Europe, the United States emerged as the largest market for Turkish automotive exports, with a total of $979 million, followed by Morocco at $498.8 million and Iraq at $248.1 million.