Turkey reached its largest figure in exports of motor vehicles to the European Union last year.
According to data released by the European Union’s statistics body Eurostat, Turkey had the largest share of the EU’s imported motor vehicle market in 2016.
The EU imported a total of 77.1 billion euros of motor vehicles last year. Turkey’s share of the EU’s imports reached 20 percent with 15.3 billion euros, followed by Japan with 19 percent.
In the said market, the U.S., the most advanced economy in the world, has a 14 percent share, followed by South Korea with 10 percent, China with 8 percent, South Africa with 5 percent, Taiwan with 4 percent, Mexico and Thailand with 3 percent and India with 2 percent.
Turkey’s motor vehicle exports to the EU have recorded an uninterrupted increase over the last five years.
The total value of motor vehicles exported from Turkey to EU countries reached 8.4 billion euros in 2012, while this figure stood at 9.4 billion euros in 2013 and 10.7 billion euros in 2014.
Having realized a further increase in the last two years, Turkey’s exports of motor vehicles to the EU broke a record with 12.9 billion euros in 2015 and 15.3 billion euros last year.
In 2016, the EU maintained its position as the world’s largest motor vehicle exporter.
The sales of motor vehicles of the 28 EU member countries amounted to 192 billion euros in the said period. The EU was followed by Japan at 127 billion euros, the U.S. at 109 billion euros, Mexico at 79 billion euros and Canada at 57 billion euros. The U.S., which led the way in the import of motor vehicles by a landslide, imported a total of 254 billion euros in motor vehicles in 2016.