Car exports plummet $882 million
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BURSA - Vehicle exports, considered the backbone of Turkey’s economy, slumped to $882 million in January, posting a year-on-year decline of 56 percent. The last time the automotive industry saw similar figures was January 2006, when vehicle exports stood at $857 million.
According to figures from the Uludağ Exporters Unions, or UİB, $356 million worth of auto-supply-industry goods were exported in January, followed by automobiles and other vehicles. Overall vehicle exports broke a record in January 2008, surpassing $2 billion.
The trend started to reverse in October, as exports fell 24 percent. The decline stood at 40 percent in November and 45 percent in December. Turkey’s automotive industry exported to 128 countries and autonomous regions in January. France ranked at the top of the importers with $155 million, followed by Germany, Italy, Britain and Belgium. The industry in January exported vehicles for the first time to the Palestinian Territories, Chad, Gabon, Jamaica, Mauritania, Maldives, Trinidad and Tobago, N. Korea and Liberia.