This undated file photo shows cars produced by Hyundai Motor Co. waiting to be exported on a dock in Ulsan, 414 kilometers southeast of Seoul. (Yonhap)
SEOUL, July 29 (Korea Bizwire) — Exports of South Korean-made passenger cars expanded 2.5 percent in the first half of the year, thanks mainly to brisk overseas demand for green cars, data showed Friday.
Local carmakers shipped passenger cars worth a combined US$22.3 billion during the January-June period, up from $21.7 billion a year earlier, according to the data compiled by the Korea Customs Service (KCS).
The number of exported units, however, decreased 2.7 percent on-year to 1.07 million.
South Korea’s imports of passenger cars also sank 6.8 percent on-year to $6.5 billion in the six-month period.
Exports of passenger cars to the United States rose 5.6 percent in the first half, and those to Australia and Britain jumped 29.8 percent and 23.7 percent, respectively.
Overseas shipments of eco-friendly cars spiked 42.3 percent on-year to an all-time high of $7.28 billion.
The average per-unit export price gained 5.4 percent on-year to $20,890 in the first half, with the median import price edging down 0.9 percent to $43,875.
In the second quarter of the year, South Korea’s exports of passenger cars went up 5.8 percent on-year to $11.4 billion, with imports sinking 15 percent to $3.4 billion, according to the data.
(Yonhap)
