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THE INVESTOR
December 09, 2019
Big Reunion

Automobiles

Korea’s auto exports to Algeria soar

  • PUBLISHED :December 14, 2016 - 11:51
  • UPDATED :December 14, 2016 - 11:54
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[THE INVESTOR] South Korea’s auto exports to Algeria have surged this year, thanks to rising demand and the operation of an assembly plant in the country, industry sources said on Dec. 14.

According to the Korea Trade-Investment Promotion Agency (KOTRA), exports of South Korean passenger cars to the African country amounted to US$92.56 million in the first 10 months of the year, up 52 percent from a year earlier.

Exports of commercial vehicles to Algeria also surged 11.1 percent on-year to $57.57 million through October.

Shipments of Korean passenger vehicles to Algeria suffered a 25 percent drop in the first eight months of the year, but have rebounded sharply since September as Hyundai Motor, South Korea’s leading automaker, started the operation of an auto assembly plant there.

(theinvestor@heraldcorp.com)
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