Turkish automotive exports largely made to EU countries

Turkish automotive exports largely made to EU countries

Turkish automotive sector, which is currently the locomotive of Turkish economy, materialized its exports of 72.3% to 24 member states of the European Union (EU) in the first half of the year. No exports have been made to Greek Cypriot side, but the market share of the automotive sector amounted to 74.3% when candidate countries Romania and Bulgaria were added. In Jan-Jun 2004 period, Turkish automotive sector exported to a total of 155 countries in the five continental, self-governing territories and 13 free zones as well as developed western countries, according to the data of Uludag Exporters Union (UIB). Total exports reached $4.8 billion in the first half of the year, up by 43.5% compared to the same period of last year. In the mentioned period, passenger cars rose by 88.1% to $1.79 billion and this is followed by subsidiary industry with $1.4 billion and carrier motor vehicles with $916 million. Among the EU countries, exports to Germany, France, Italy and UK surpassed half of the total automotive exports with $2.42 billion.