Turkey's automotive exports again break record

Turkey’s automotive exports again break record

Turkey's automotive exports continue to beat record. Based on the data released by Uludag Exporters Union (UIB), Turkish automotive sector which has focused on exports due to economic crisis increased exports by 45.8% in the first quarter of 2004 and reached $2.1 billion. This figure was recorded as $1.5 billion in the corresponding period of last year. Furthermore, automotive sector has surpassed the exports of $1.8 billion recorded in 1998. In March, automotive exports amounted to $848.2 million, up by 44% compared to $587.2 million registered in March 2003. The distribution of export figures in the first quarter of 2004 is as follows; passenger cars increased by 96.5% to $756.1 million, subsidiary industry to $686.7 million and this is followed by carrier motor vehicles with $352.2 million. In January-March 2004 period, automotive sector exported 142 countries and self governing territory as well as 12 free zones. The Turkish automotive sector mostly exports to European countries. Germany ranked first among these countries with $342.9 million, followed by France, Italy, UK and Spain.