S.Korea's Q2 auto exports rise 7.2 pct on demand from Europe, Middle East

Source: Xinhua| 2017-07-28 16:01:50|Editor: Zhou Xin
Video PlayerClose

SEOUL, July 28 (Xinhua) -- South Korea's auto exports rose in the second quarter thanks to demand from Europe and the Middle East, customs data showed Friday.

Car exports by local automakers reached 10.3 billion U.S. dollars in the April-June period, up 7.2 percent from the same period of last year, according to Korea Customs Service.

The number of automobiles exported to overseas countries was 700,000 in the second quarter, up 1.4 percent from a year ago.

The growth was attributed to strong demand from oil-exporting countries in the Middle East such as the United Arab Emirates (UAE) and Iran, to which exports more than doubled in the quarter.

Car exports to Germany, Spain and Italy also posted a double-digit expansion.

The average export price of locally-made cars came in at 14,851 U.S. dollars per unit in the quarter, up 5.7 percent from a year earlier.

Car imports tumbled 15.6 percent over the year to 2.5 billion dollars in the second quarter. The number of imported vehicles plunged 18.1 percent to 80,000 units.