Exports of automotive parts in February up 14.5% YoY to €954M
Five countries - Spain, Germany, France, Slovakia and the US - take 71% of Portugal's exports of automobile components, with Spain by far the largest client, with sales of €588 million.
Exports of automotive components in February were up 14.5% from the same month in 2022, to €954 million, the AFIA – Association of Manufacturers for the Automotive Industry, announced on Monday.
In a statement, the association said that, in the first two months of the year, exports of automotive components totalled €1.964 billion, representing a year-on-year rise of 15.6%. February was the tenth consecutive month of year-on-year increases in exports of these materials.
The AFIA notes that five countries – Spain, Germany, France, Slovakia and the US – take 71% of Portugal’s exports of automobile components, with Spain by far the largest client, with sales of €588 million.
Germany is second with €420 million, France third with €221 million, Slovakia with €82 million and the US with €71 million.
While among the four European countries mentioned, sales for 2023 rose, this did not happen in the case of the US, with February seeing a further decline, in line with what had already been observed in the previous month.
In information released on Monday, the AFIA highlights the global situation and cost inflation related to transport, energy and raw materials as “factors that continue to promote uncertainty in this and other sectors worldwide” but stresses that Portugal’s automotive components industry “has managed to maintain strong resilience” and continues to gain market share.
