LONDON--(BUSINESS WIRE)--The automotive industry in Turkey has enjoyed several continuously successful years as both its automotive production and exports are growing at a steady pace. Last year, Turkey produced over 1.4 million vehicles and ranked as the 14th biggest automotive manufacturing country in the world. In 2017, Turkey’s automotive industry will continue its production growth and meet a higher number of automotive exports.
BizVibe is home to over 110,500 automotive companies around the world, in a recent article titled Automotive Industry in Turkey: Why Exports are Surging, BizVibe takes a look at the significant growth of the automotive exports in Turkey
BizVibe notes that the value of automotive exports in Turkey recorded $14.4 billion in the first half of 2017, increased by an impressive 22.4% from $11.7 billion in the same period last year. When it comes to annual figures, automotive exports from Turkey, which registered $23.8 billion last year, is on route to reach an all-time high of $27 billion in 2017.
Currently, automotive exports in Turkey represents 17% of market shares in the total volume of exports, which has placed the automotive industry as the leader of Turkish exports for the 11th year in a row. Growing automotive exports in Turkey are also attributed to the fact that Turkey has become one of the world’s most popular production centers for many international car brands. More than 250 global auto manufacturers and suppliers are located in Turkey, including some big names such as Ford, Fiat, Daimler, AVL, and Segula.
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