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Data: S. Korea's Auto Exports Post Four-Year High in 2019

Written: 2020-02-06 13:17:19Updated: 2020-02-06 14:57:56

Data: S. Korea's Auto Exports Post Four-Year High in 2019

Photo : YONHAP News

Exports in South Korea's auto industry posted a four-year high last year, thanks to an upswing in outbound shipments to North America and Russia and rising demand for eco-friendly vehicles.

The Korea Customs Service said on Thursday that auto exports totaled 39-point-four billion dollars in 2019, jumping five-point-three percent on-year.

Imports totaled eleven billion dollars.

The value of exports was the highest since the auto industry recorded shipments worth 40-point-seven billion dollars in 2015.

Exports to the United States surged 15-point-five percent, while shipments to Canada increased 13-point-one percent and to Russia, seven percent.

Shipments to Russia have been steadily increasing since 2016, with value taking up almost six percent of the total in 2019, compared to two-point-two percent in 2015.

In the fourth quarter, exports of eco-friendly cars totaled one-point-eight billion dollars, up 19-point-one percent on-year.

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