Auto sector ranks 1st in country’s overall exports with 13.3%
Turkiye’s automotive industry, the locomotive of the country’s economy, generated $29.3 billion worth of exports in 2021, according to the Uludag Automotive Industry Exporters’ Association (OIB).
The auto sector ranked first in the country’s overall exports with 13.3%.
The EU market accounted for 64.6% of the country’s total automotive exports, with $19 billion.
Germany became the largest export market in 2021. Last year, Turkey’s exports to Germany increased by 17% compared to the previous year, reaching $4.1 billion.
The industry also saw rises in its exports to France and the UK, with 14% and 39%.
There was also a 22% increase in exports to Morocco.
While exports to the Middle East fell by 15% last year, they rose 38% to the Commonwealth of Independent States, 28% to the North American Free Trade Area and 21% to African countries.
OIB’s chairman of the board,Baran Celik, said problems that started with the semiconductor chip crisis last year continued with other raw material supply problems and deepened with increasing costs, negatively affecting Turkiye’s automotive industry as well as globally.
Celik noted, however, that the automotive industry registered the second highest monthly export volume in its history in December.
“Despite all the problems experienced, we were able to close last year with a 15% increase in exports,” he added.