Turkey's automotive exports lose momentum

Turkey’s automotive exports lose momentum

Turkey's automotive sector exports reported the first monthly decline in July since the beginning of the year. July automotive exports fell 6 percent from June exports to $1.5 billion. However, year-to-date exports rose 30 percent year on year to $7.69 billion. Passenger car exports ranked first in January-July 2005 period with $2.64 billion. For the January-July 2005 period, the Turkish automotive sector exported a total of 165 countries and self-governing territories, as well as 13 free zones. Germany was Turkey's largest export market, absorbing $1.96 billion worth of automotive exports. Next were Italy, France, the UK, Spain and Romania.