Keep the world on the move? One piece at a time… The automotive components sector not only drives cars, but also the economy around the world.
Did you know, for example, that 98% of car models produced in Europe contain components manufactured in Portugal?
The portuguese automotive supply industry is indeed an engine of economic growth that remains competitive, resilient and adaptable year after year, despite all adversity. For this reason, in today’s publication we are looking at the development of the sector.
Another consecutive month of growing!
The automotive supplier sector continues to be one of the most important drivers of economic growth in Portugal. It accounted for 16.4% of exports of tradable goods in the first month of 2024.
According to data published by the AFIA – Association of Manufacturers for the Automotive Industry – exports of automotive components increased by around 0.3% in January compared to the same month in 2023, reaching a value of 1,047 million euros.
Europe is the most important destination for automotive components (89.3%), and the main countries where the share of exports is concentrated are: Spain with 28.4% of exports, followed by Germany (23%) and France (9.2%). Countries such as Spain (-5.8 %), France (-23.1 %), Slovakia (-29.8 %) and Poland (-16.1 %) recorded a negative relative change compared to the same month. In contrast, Sweden (+63.9%) and Austria (+41.1%) recorded growth of more than 40% compared to the same month last year.
Also noteworthy is the American continent, which accounts for 5.6% of Portuguese exports of automotive components – a remarkable increase of 9.9% compared to the same month of the previous year.
Last year, automotive exports rose by 14% to a record value of 12,433 million euros.
Sources:
AFIA. (2024). Exportações de componentes automóveis voltam a ultrapassar os 1000 milhões de euros e são responsáveis por 16,4% das exportações nacionais de bens transacionáveis. Consultado a 20 de março de 2024, em: https://afia.pt/exportacoes-de-componentes-automoveis-voltam-a-ultrapassar-os-1000-milhoes-de-euros-e-sao-responsaveis-por-164-das-exportacoes-nacionais-de-bens-transacionaveis/?utm_source=brevo&utm_campaign=PEmpresarial%20791-24%20%20Angola%20AEP%20prepara%20presena%20nacional%20na%20FILDA&utm_medium=email
Jornal de Negócios. (2024). Exportações de componentes automóveis sobem 0,3% para 1.047 milhões em janeiro. https://www.jornaldenegocios.pt/empresas/industria/detalhe/exportacoes-de-componentes-automoveis-sobem-03-para-1047-milhoes-em-janeiro
