Automobile exports reached $ 23.6 billion

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Seoul [South Korea], July 16 (ANI / Global Economic): In the first half of 2021, despite difficulties in sourcing automotive components due to the COVID-19 outbreak, automobile exports reached their highest performance in seven years.

The Department of Commerce, Industry and Energy (MOTIE) announced on the 15th that automobile exports in the first half of this year were up 49.9 percent year-on-year to $ 23.61 billion.

This is the highest export performance since the first half of 2014 ($ 25.23 billion).

By region, export performance in the first half of the year was highest in North America ($ 10.797 billion, 39.7 percent), followed by the European Union ($ 4.177 billion, 56.3 percent) and Eastern Europe (2.736 billion, 80.2 percent).

Auto exports also rose in the Middle East ($ 1.69 billion, 0.9 percent), Latin America ($ 1.03 billion, 124.6 percent), Africa ($ 319 million, 87.3 percent), Oceania (1.468 billion Dollars, 111.3 percent). Percent) and Asia ($ 1.413 billion, 64.9 percent).

The number of exported units rose by 27.9 percent to 1,049,658 units, marking the first double-digit growth since the first half of 2012.

The Ministry of Commerce, Industry and Energy said, “Efforts by Korean domestic companies to improve the competitiveness of their products despite the difficulties of automotive component shortages resulted in an increase in world market share” in the first half of this year by 48.1 percent broken compared to the previous year and thus broken the highest sales record of any company. During this period, the share held by the Korean automotive company rose by 1.2 percent to 9.7 percent.

Auto parts exports rose 43.6 percent year over year to $ 11.61 billion.

A MOTIE official said, “As consumer demands have risen again as a result of economic recovery measures in key countries, the operating rate of local factories has also recovered to normal levels.” (ANI / world economy)



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