Automotive sector posts record deficit in 2023

In 2023, Turkey's automotive sector experienced a challenging period on the foreign trade front, despite achieving record sales in the domestic market. When import and export figures are examined, it is seen that the sector has a record-level trade deficit.

According to data shared by EBS Consulting, Turkey's automotive sector made 11 billion 54 million dollars in exports in 2023, while imports amounted to 17 billion 524 million dollars. In this situation, the sector posted a trade deficit of 6.5 billion dollars in 2023. The previous year, the sector had posted a surplus of 1.46 billion dollars.

The country from which the most automobiles were imported was Germany, and Turkey imported 4.3 billion dollars worth of automobiles from this country. Germany was followed by Spain, France, China, and Czechia, respectively.

On the other hand, the country to which the most automobiles were exported was France, and 2.1 billion dollars in revenue was generated from this country. Following France were Italy, Spain, the United Kingdom, and Poland.

Countries with the most exports:

France: 2.1 billion dollars

Italy: 1.1 billion dollars

Spain: 1.1 billion dollars

United Kingdom: 1.1 billion dollars

Poland: 837 million dollars

Countries with the most imports:

Germany: 4.3 billion dollars

Spain: 3.5 billion dollars

France: 1.8 billion dollars

China: 1.2 billion dollars

Czechia: 1 billion dollars

In particular, the remarkable increase in China's import category, exceeding 600 percent, once again highlights China's importance in the sector.

News Source: 12punto