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THE INVESTOR

Automobiles

Korea’s auto exports up 12% in April

  • PUBLISHED :May 16, 2017 - 14:13
  • UPDATED :May 16, 2017 - 14:13
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[THE INVESTOR] Korea’s auto exports gained ground for three straight months in April on increased global demand, government data showed on May 16.

The total value of vehicles shipped overseas reached US$3.89 billion last month, up 11.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

The number of exported vehicles advanced 7 percent on-year to 242,416 units in April, a turnaround from a 4.7 percent drop the previous month.

The ministry said a recovery in overseas demand led the uptick last month with US$674 million worth of Korea-made cars sold in the European Union, up 60.3 percent from a year earlier.

Outbound shipments to the Middle East countries rose 9 percent to US$524 million and those to Central and South America also gained 14.6 percent to US$287 million.

But exports to North America slipped 3.3 percent on-year to US$1.64 billion last month, while sales in Asian nations fell 4.6 percent to US$200 million.

By Alex Lee and newswires (alexlee@heraldcorp.com)
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