The import of parts and accessories for motor vehicles to Turkey showed a varied trend from 2013 to 2023, with a value standing at 6.8833 billion US dollars in 2023. This value increased marginally, showing a year-on-year percentage change of 2.5% from 2022 to 2023. However, the compound annual growth rate (CAGR) over the last five years stands at 2.9%, indicating a steady upward trajectory.
From 2013 to 2023, the data revealed noticeable fluctuations:
- Significant increases were seen in 2014, 2017, and 2021, with year-on-year growth rates of 1.16%, 18.93%, and 17.6% respectively.
- Conversely, declines occurred notably in 2018 and 2020, with year-on-year decreases of -3.23% and -14.61% respectively.
Future trends indicate a steady growth forecast, with a five-year CAGR of 1.9% from 2024 to 2028 and an overall forecasted growth rate of 9.89%. It will be essential to monitor economic conditions, commodity prices, and automotive industry trends, which could impact import values.
