The Association of Manufacturers for the Automotive Industry (AFIA) revealed that automotive components exports reached € 1047 million in the first month of 2024, representing a 0.3% increase compared to the same month in 2023.
According to data collected by AFIA, “in January 2024, automotive components exports accounted for 16.4% of the national exports of tradable goods, remaining as one of the driving forces of Portugal’s economic growth”.
Regarding the share of automotive components exports by region, in the first month of 2024, Europe accounted for 89.3% of purchases, showing a 0.1% increase compared to the same period in 2023. The American continent grew by 9.9% in January compared to the same period in 2023, representing 5.6% of automotive components exports.
In the analysis by country, Spain remains the main destination for automotive components manufactured in Portugal, accounting for 24.4% of exports, followed by Germany with 23% and France, maintaining the third position with a share of 9.2%.
Regarding the top 15, two markets stand out with a growth of over 40% compared to 2023, namely Sweden in 9th place with a growth of over 63.9%, and Austria, which continues to occupy the last position in the top 15 with a growth of 41.1% compared to the previous year.
“It is worth noting that the automotive components industry, despite facing challenges and unexciting scenarios for the current year, which will negatively affect companies both nationally and internationally, has found ways to maintain its competitiveness, proving to be an extremely resilient and highly adaptable sector. However, a decrease in orders may occur, considering the drop in consumption due to economic instability.”, concludes the AFIA note.
