Car component exports down 3.7% to July

Exports of car components fell 3.7% to July this year according to data released by the Portuguese Association of Automobile Industry Manufacturers – AFIA.

“With regard to accumulated exports between January and July, exports of automotive components reached €7,200 million, registering a decrease of 3.7% compared to the same period of 2023,” it said in a statement.

In July alone, these exports increased by about 1.3% compared to the same period in the previous year, to 1,000 million euros.

Sales to the European market to July suffered a fall of 4.7%.

Spain continues to be the main destination for components manufactured in Portugal (27.6%), followed by Germany (23.7%) and France (8.3%).

“European industry is going through a tough time, however, we believe in the strength of our industry to be able to find ways to overcome these challenges,” said the president of AFIA, José Couto.

The figures released on Tuesday by the association are based on international trade statistics of goods compiled by the National Statistics Institute (INE).