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.