S.Korea's automotive export logs double-digit growth in May
Jun 15, 2022
Seoul [South Korea], June 15 (ANI/Xinhua): South Korea's automotive export logged a double-digit growth last month due to strong demand for environmentally-friendly vehicles, government data showed Wednesday.
Car shipment advanced 18.9 per cent from a year earlier to 4.15 billion US dollars in May, according to the Ministry of Trade, Industry and Energy.
It marked the highest May figure on the back of robust global demand for eco-friendly vehicles, the export of which surged 46.1 per cent to 1.28 billion dollars.
The eco-friendly car shipment took up 30.7 per cent of the total in May, up 5.7 percentage points from a year earlier. The number of exported vehicles was 182,869 in May, up 19.1 per cent from the same month of last year.
Auto parts export expanded 7.6 per cent to 1.96 billion dollars owing to solid U.S. demand.
In the domestic market, the automotive sale reduced by 4.1 per cent over the year to 145,464 units in May.
The number of eco-friendly cars, including electric and hydrogen fuel cell vehicles, sold in the local market jumped 45.3 per cent to 41,003 in May, keeping a record-breaking trend for the third straight month.
The number of vehicles produced in local factories soared 19.8 per cent to 307,048 in May, marking the first rebound in three months. (ANI/Xinhua)
