Automotive industry steals textile’s crown as king of exports
Posted by meb at June 12th, 2007
The Turkish automotive industry has grown beyond all forecasts, usurping the textile sector at the top of Turkey’s exports and increasing 23-fold in the 16 years since the first formal vehicle exports in September 1991. Automotive exports are expected to reach $17 billion at the end of this year. According to data gathered by the Uludağ Exporters’ Union (UİB) and reported by the Anatolia news agency, exports between September and December of 1991 were $163.7 million. Vehicle exports increased every year except for 1993. The trend of increasing exports was not stable prior to the 2001 economic crisis, but growth post-crisis occurred at tremendous rates. Motor vehicle exports in 2001 were $1.2 billion higher than 2000 figures. In 2002, car exports were $935 million higher than 2001. After 2002, the increase in vehicle exports was more than $2 billion each year. In 2006 exports were 23.1 times higher than those of 1992. The $7.8 billion worth of exports during the first five months of 2007 were more than the total vehicle exports for the year 2003.
According to the data, sedan exports in first five months of 2007 were $2.7 billion, marginally higher than similar exports of $2.6 billion in all of 2000. Additionally, the exporting of spare auto parts between January and May of 2007 is already more than the total for 1998.
source: Today’s Zaman
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