Recovery in Turkey's auto exports slowing down

A recovery pace in exports from Turkey's automotive industry has been slowing down since January this year, data released by a regional automotive exporters' union showed.

Recovery in Turkey's auto exports slowing down

A recovery pace in exports from Turkey's automotive industry has been slowing down since January this year, data released by a regional automotive exporters' union showed.

The increase in automotive exports slid to 20.9 percent in April from 44.1 percent in January against a background of a historic drop of 32 percent in 2009 over the previous year.

Despite a 51.4 percent rise in December 2009, the sector, which is considered as "the locomotive" of the Turkish economy, suffered a $7.54 billion blow in exports due to the global economic recession.

However, figures in the first four month of 2010 showed an increase of $5.65 billion or 35.2 percent. Four-month exports in 2009 were $4.18 billion.

The following chart shows rise in automotive export figures for the last five months: ,

Month/Year Change%
     ------------- --------
     December/2009 51,3
     January/2010 44,1
     February/2010 39,7
     March/2010 37,6
     April/2010 20,9
 

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Last Mod: 07 Mayıs 2010, 14:53
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