Automotive Industry Leads with $3.2 Billion in May Exports
The Turkish automotive industry has emerged as the leading sector in exports for May, achieving a record $3.2 billion. According to data from the Turkish Exporters Assembly (TİM), the automotive sector topped the export charts in the industrial group, followed closely by chemicals and chemical products at $3 billion, and ready-made garments and apparel at $1.6 billion.
In an impressive performance, the hazelnut and hazelnut products sector saw the highest increase in exports, soaring by 65%.
The industrial group, which accounts for 71% of Turkiye’s total exports, saw its foreign sales rise by 11.5% to $17.1 billion last month.
The agricultural sector, representing 13.1% of total exports, experienced a 9.6% increase to $3.2 billion. Meanwhile, the mining sector, comprising 2.3% of total exports, remained steady with $546.2 million in foreign sales.
Germany Tops Export Destinations
Germany was the top destination for Turkish exports in May, with shipments totaling $1.7 billion. The United States and the United Kingdom followed with $1.2 billion and $1.1 billion, respectively.
The top three exporting cities were Istanbul at $8.8 billion, Kocaeli at $1.8 billion, and Bursa at $1.6 billion. Notably, 55 cities increased their export figures last month.
Several cities, including Ankara, Sakarya, Konya, Tekirdağ, Eskişehir, Giresun, Erzurum, and Bartın, achieved their highest export figures in history.
Additionally, 1,334 companies made their debut in exports in May, contributing $109 million to the total export value. The average unit export value was reported at $1.43.
Source: Trthaber / Prepared by Irem Yildiz