That Other Turkey

Far away from the hassle and turbulence of Turkey’s EU membership application is that other Turkey, the one that is growing and expanding, the economic Turkey. This time it’s cars:

“With a cluster of carmakers and part suppliers, the Turkish automotive sector has reached a critical mass and become an integral part of the global network of production bases. The country?s geographic location and demographics make it an ideal production (and distribution) centre for the mature European market as well as emerging markets in the Middle East and North Africa. Not surprisingly, the annual growth rate of automotive exports accelerated from 6.7% in the 1980s to 30.8% in the 1990s and to 42.6% in the last five years. Accordingly, Turkey now exports over US$10 billion worth of motor vehicles and parts to 170 countries, and there is no sign of a slowdown in the near future. The sector raised its international sales by 53.7% in 2004 and 43.9% in the first five months of this year, generating 20% of the country?s total export earnings. “

This entry was posted on Wednesday, June 15th, 2005 at 2:46 pm and is filed under A Few Euros More, Economics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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