Korea’s automobile exports increased by 21.7% in January

SEOUL, February 19, 2017 (WAM) – The Republic of Korea’s automobile exports jumped by 21.7% on an annual basis during the month of January, thanks to strong demand for environmentally friendly cars and an increase in the number of working days, according to data issued by the Korean Ministry of Trade, Industry and Resources today, Thursday.

The Korean Yonhap News Agency quoted the ministry’s report as saying that the total value of automobile exports reached $6.07 billion last month, the second highest level for any January, and this is due to strong demand for electric and hybrid cars.

Electric vehicle exports rose by 21.2% year-on-year to $780 million, while hybrid car exports jumped by 85.5% to reach $1.71 billion.

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