Exports of automotive components reach new record in April
The Association of Manufacturers for the Automotive Industry (AFIA) revealed that automotive component exports reached a new record of €1.1 billion in April 2024, reflecting an 11% increase compared to the same month of the previous year.
These newly revealed data reflect an absolute record, also comparing to the 15.5% increase in total national goods exports.
“It is worth noting that automotive component exports account for 16.1% of national tradable goods exports, which means that for every €100 exported, €16.10 comes from the automotive component industry,” says José Couto, president of AFIA.
Regarding the cumulative total up to April, there was a slight decrease compared to the period between January and April 2023, with automotive component exports reaching €4.3 billion.
Thus, despite accounting for 88.8% of automotive component exports, exports to Europe in the cumulative total of 2024 recorded a decrease of 2.8% compared to the same period of the previous year. Spain maintains its leadership as the main destination for Portuguese components with 27.8% (-3.2%), followed by Germany and France with 23.9% (4.6%) and 8.4% (-26.2%), respectively.
“Despite the improved results compared to March, it is important to be aware that we continue to face very difficult moments resulting from economic instability, challenges related to the decrease in orders, and international conflicts. We have no doubt that it is necessary to remain competitive and capable of making a difference so that our customers recognize us as partners. The moment is complex, it requires us to be attentive and anticipate unpleasant surprises,” adds José Couto.
