Korea’s automobile exports rose by 16.8% in September
SEOUL, October 20 / WAM / Automotive exports in the Republic of Korea rose by 16.8% over the previous year during last September, driven by strong demand for environmentally friendly cars in Europe and Asia.
The Korean Yonhap News Agency reported that the value of exported car shipments reached 6.41 billion US dollars last month, the highest number for the months of September, according to data from the Ministry of Trade, Industry and Resources issued on Monday.
In terms of volume, exports rose by 11% year-on-year to reach 228,000 vehicles, while the accumulated value of vehicle exports from January to September reached an all-time high of $54.1 billion.
Exports to the European Union rose by 52.8% year-on-year to reach $958 million during September, while exports to Asia rose by 62.3% to reach $823 million, while exports to North America fell by 5.3% to reach $2.8 billion, with exports to the United States declining by 7.5% to reach $2.4 billion.
By type, exports of environmentally friendly cars, such as electric, hybrid and hydrogen-powered cars, rose by 47.5% from the previous year to reach 90,496 cars last month. This is the first time that monthly exports of environmentally friendly cars have exceeded 90,000 units, representing nearly 40% of total car exports.
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