Economy

Turkey's automotive exports drop in Q1 due to COVID-19

Novel coronavirus outbreak hits Turkey's automotive exports

Gökhan Ergöçün   | 05.04.2020
Turkey's automotive exports drop in Q1 due to COVID-19

ISTANBUL 

Turkey's automotive exports decreased by 10% to stand at $6.98 billion year-on-year in the first quarter due to the novel coronavirus pandemic, Uludag Automotive Industry Exporters Association said.

The country's automotive exports were $7.75 billion in the first quarter of 2019, the association's data showed on Sunday.

Monthly automotive exports also decreased by 28.5% to $2.1 billion in March, it said.

In the first quarter, the country's overall exports also posted a decline of 4%.

The automotive sector's exports to the EU countries narrowed by 31% in March.

Ruhsar Pekcan, the Turkish trade minister, has said last week that there will be a drop in the total foreign trade of Turkey, but the government is working to keep at the minimum level.

Turkey has confirmed a total of 501 fatalities from the novel coronavirus, while the number of infected people reached 23,934, according to official figures late Saturday.

After first appearing in Wuhan, China, in December, the virus, has spread to at least 183 countries and regions, according to data compiled by U.S.-based Johns Hopkins University.

The data shows more than 1.2 million cases have been reported worldwide, with the death toll nearly 66,500, and over 252,600 recoveries.

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