Automotive makers lead Turkey’s top exporters’ list

Automotive makers lead Turkey’s top exporters’ list

Automotive makers lead Turkey’s top exporters’ list Carmakers were ranked as one of Turkey’s largest three exporters in 2016, with Ford Otosan, a joint venture between Ford Motor Co. and Turkey’s Koç Holding, topping the list with an export volume of $4 billion. 
According to the Top 1,000 Exporters in 2016 list by a sector association, Ford Otosan was followed by Tofaş, another joint venture of Koç with Fiat, by making an around $3.2 billion exports last year. 

Oyak-Renault, a joint venture between Oyak and France’s Renault, ranked third in the list prepared by the Turkish Exporters Assembly (TİM), with $2.8 billion in exports.

These three carmakers also became the country’s top industrial producers last year, showed a list by the Istanbul Chamber of Industry (İSO) on June 5.

The automotive sector became the top exporting sector by taking more than 27 percent in total exports, which were undertaken by the top 1,000 exporters. 

Turkey’s annual auto exports, including trucks and buses, surpassed 1 million units for the first time in 2016, as foreign automakers’ investment in new models and a recovery in its mainstay European market lifted shipments.

The top 1,000 exporters made some 57.3 percent of Turkey’s total exports last year. While some 48.8 percent of these exports were made by the top 500, the remaining 8.5 percent was made by the second largest 500 exporters. 

“Our exports are estimated to exceed $156 billion this year with a year-on-year 9.5 percent increase. We believe that the sector would go beyond our association’s 2017 target, which was $155 billion,” said TİM President Mehmet Büyükekşi during a press meeting held to launch the list on June 9. 

Kibar Foreign Trade Co. ranked fourth on the list, followed by Turkey’s refinery TÜPRAŞ and home appliances maker Vestel. 

Toyota Automotive Turkey, another carmaker, ranked seventh on the list. 

Koç’s home appliances maker Arçelik and Bosch Turkey ranked eighth and ninth, respectively. 

TGS Dış Ticaret ranked tenth on the list. 

According to the list, the top 1,000 exporters employed 567,000 people as of 2016 and paid 5.2 billion Turkish Liras for research and development.