Exports of automotive increased by 7% in Turkey, while machinery exports rose by 32%.
The automotive industry
Automotive exports increased by 6.4% over the average of the last 10 years
In the first seven months of the year, total automotive market exports increased by 31% compared to the previous year in Turkey. Based on the averages of the last 10 years, total market exports increased by 6.4%
While the market for heavy commercial vehicles decreased by about 4%, the market for light commercial vehicles has maintained the average over the last ten years, with a decrease of 2%.
During this period, the share of locally produced vehicles in car sales was 40%, while the share in the light commercial vehicle market was 53%.
30% increase in commercial vehicle production
Between January and July, commercial vehicle production increased by 30% year-on-year. Indeed, while the production of heavy commercial vehicles increased by 56%, the production of light commercial vehicles increased by 28%.
The total commercial vehicle market increased by 95%, with the light commercial vehicle market increasing by 40% and the heavy commercial vehicle market by 112%.
The machinery and equipment manufacturing industry
According to the Machinery Exporters Association (MAİB) statement, total exports of Turkey’s machinery and equipment manufacturing industry, including free zones, reached $13 billion at the end of July.
At the end of the first 7 months of the year, the total exports of the machinery and equipment manufacturing industry, including free zones, increased by 16% compared to 2019 and by 32% compared to 2020, reaching $13 billion. Total machinery exports to Germany, the US, and the UK, the sector’s largest export markets, amounted to $3 billion. The increase in machinery exports to the top 5 countries, including Italy and France, is 40% compared to last year.
The President of the Machinery Exporters Association, Kutlu Karavelioğlu, said that investments in machinery and equipment would continue to increase rapidly worldwide and stated:
“In the first half of the year, global investment in machinery and equipment is estimated to have increased by 15% over the previous year and 4.5% over 2019, while in Turkey there has been an increase of around 30%. With the implementation of the investments postponed during the pandemic, the demand for our products has increased, and our production and export capacity is growing much faster than our competitors.”
” We will achieve the highest export of all time in August.”
Stating that they do not expect the fourth wave of the epidemic to disrupt economic and social activities, Karavelioğlu maintained, “the 45% increase in production we achieved in the first half of the year shows that we have not only increased our capacity but also worked much more efficiently. The export growth rate was stagnant due to the July holidays, but we are currently experiencing our most productive August ever. We estimate that we will achieve an additional $9 billion in export revenue by delivering 1.5 million tons of orders over the next 5 months.
You can read more about the automotive industry in Turkey on our blog.