Turkey's Auto Industry get major boost by rising imports by Kazakhstan

 Turkey is among the top automotive markets in the world. As per the Turkey customs data, the country's total automotive exports were estimated around 30 billion dollars in FY 2022. Whereas in 2021, it was totaled to be 29 billion dollars and 25 billion dollars in 2020. The major markets for Turkey's automotive exports are France, Italy, Spain, United Kingdom and Germany.               

France is the leading importer of Turkish automotive products with over 20% share of Turkey's automotive exports. Other major importers of Turkish automotive parts were Italy (9%), Spain (8.5%), United Kingdom (8.2%), Germany (8%) and Poland (4.8%). 

Whereas the fastest growing markets for Turkish automotive exports are Spain, France, United States, Sweden, Egypt, Greece, Israel, Bulgaria and Kazakhstan. According to the current Turkey export data reports, during June 2023, Turkey exported over 20 million dollars worth of Automotive products. There was around 350% increase in the exports of auto products from Turkey to Kazakhstan.

As per Turkey import export data reports, Turkey’s exports to Kazakhstan is growing at the rate of 8% yearly. Apart from automotive products, Kazakhstan's major imports include medicines, knit t-shirts, hand-woven rugs, carpets, knit sweaters, machines, heaters, furniture, electrical equipment, etc. In 2022, Machinery was the top product imported by Kazakhstan with over 230 million dollars. 

In terms of import value, apparel clothing was the second most imported product with over 212 million dollars followed by Electronics ($93 M), Pharmaceuticals ($75 M), Vehicles ($68 M), Plastics ($65 M), etc. The demand for Turkey's furniture, lighting signs, prefabricated lightings grew significantly and reached 65 million dollars in 2022. 

 

On the other hand, Turkey saw Kazakhstan as a prominent mineral fuels and oil supplier. According to the Turkey import data, Kazakhstan was the top refined copper exporter to Turkey in the fiscal year 2022. Kazakhstan had exported over 805 million dollars worth copper to Turkey. 

Raw Aluminium was the second most imported metal after copper with over 264 million dollars worth imports from Kazakhstan. Whereas, Petroleum gas had over 150 million dollars worth of exports from Kazakhstan to Turkey followed by Coal ($76M), Cotton ($35M), Lead ($31M), etc.

Kazakhstan and Turkey share over 3 billion dollars worth of imports and exports between them. In the first quarter of 2023, Kazakhstan had exported over 1.4 billion dollars while the imports were estimated around 235 million dollars. Kazakhstan exports are growing at the rate of 12% annually. This trade will grow further by the end of this year. 

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