Turkey auto industry exports for February reach highest level since 2008
Europe Section, ICD
The Turkey automotive industry's exports for February 2016 rose to nearly US$2 billion, reaching their highest level since 2008, the country's Automotive Industry Exporters' Union said.
The figure represented an increase of roughly 17 percent over the level of US$1.7 billion for the same month a year earlier, according to the union.
Turkey is an important global center of automobile manufacturing. A total of 1.4 million vehicles (including automobiles, light commercial vehicles and tractors) were produced in the country in 2015, up by roughly 16 percent over the previous year.
The automotive sector in Turkey employs more than 400,000 workers, according to the investment ministry. Global manufacturers with production plants in the country include Toyota, Honda, Isuzu, Ford, Daimler, Hyundai, Fiat and Renault.
Since the launch of a customs union between Turkey and the European Union, the vast majority of the Turkey automobile industry's exports head to the EU market. For February this year, the figure topped 80 percent of the total.
Turkish exports of 1,500-2,500 c.c. vehicles to Taiwan in 2015 rose by 106.6 percent over the previous year, marking the second highest increase among all Turkish exports to Taiwan for the year.