The Turkish automotive industry provided around one fifth of all exports for the Turkish economy in July, figures issued by the Uludag Automotive Industry Exporters Association (OIB) show.
Automotive exports were up 41% to US$2.4bn in July, with share in total exports up to 21.2%.
Go deeper with GlobalData
Passenger car exports increased 74%, but the OIB said double-digit growth was experienced with all major export items.
While Turkish car exports increased 54% to Italy, which is the biggest market for Turkish passenger cars, exports to the UK surged 477%. There was also an export increase of 47% to France, 77% to Spain, 22% to Germany and 100% to the US.
Automotive exports to EU countries, Turkey's biggest market, received 78% of exports, increasing 41% last month and amounting to US$1.9bn.
Despite political turmoil in Turkey (and an attempted coup in July 2016 followed by a controversial government crackdown on dissent), Turkey's automotive sector last year reached its highest level of production of the past decade by manufacturing almost 1.5m vehicles.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
