The Association of Manufacturers for the Automotive Industry (AFIA) revealed that automotive component exports reached €1,130 million in September of this year, registering a 3.5% increase compared to the same month in 2022.
According to data collected by AFIA, this growth “represents an increase for the seventeenth consecutive month, continuing to show a growth rate higher than national exports of goods, which decreased by 8.2% in the same period, presenting itself as one of the drivers of Portugal’s economic growth.”
Comparing the values of automotive component exports in the third quarter of 2023 with the same period in 2022, there was an increase of 7.1%, reaching €2,916 million. Thus, in the period from January to September, automotive component exports reached €9,377 million, which represents an increase of 16.4% compared to the same period in 2022.
Regarding the share of component exports for automobiles in 2023 by region, it is worth noting that Europe accounts for 89.3% of sales made from the beginning of the year until September, with an increase of 18.9% compared to the same period in 2022.
Spain continues to be the main destination for automotive components manufactured in Portugal, accounting for 27.9% of exports, followed by Germany with 22.6%. France closes the podium with a share of 10.6%.
Analyzing the top 15 customer markets for Portugal, it can be concluded that there is an increase in Portuguese automotive component exports in fourteen of the fifteen countries, with the United States of America being the only one to show a decrease of 15.9% in the 22/23 variation.
In addition, it is worth noting the increase of over 30% in the relative variation from 2022, such as Poland with 30.7%, Morocco with 37.1%, Sweden with 43.7%, and Austria with 44.3%.
“It should be noted that the automotive component industry, despite facing challenges and scenarios that continue to affect companies and suppliers, has found ways to maintain its competitiveness, showing itself to be an extremely resilient and highly adaptable sector,” adds the statement from AFIA.
