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S. Korea's Car Exports Grow 7.2% in Q2

Written: 2017-07-28 16:55:03Updated: 2017-07-28 17:27:22

S. Korea's Car Exports Grow 7.2% in Q2

South Korea’s exports of cars have shown a moderate growth, driven by a strong demand from the Middle East and Europe.

The Korea Customs Service(KCS) said on Friday that the country exported ten-point-three billion U.S. dollars worth of cars in the April-June period, up by seven-point-two percent from the same quarter last year.

Seven-hundred-thousand South Korean cars, or one-point-four percent more from last year, were shipped abroad.

Compared to the first quarter, it marks a growth of nine-point-six percent in terms of the amount of exports and a growth of nine-point-five percent in terms of the number of cars exported.

A solid recovery of demand from oil-rich countries was particularly attributed to the growth, with exports to the UAE and Iran jumping about 125 percent and 115 percent, respectively, from last year. 

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