This file photo taken Aug. 29, 2022, shows a port in Ulsan, 307 kilometers southeast of Seoul, packed with cars set to be exported. (Yonhap)
SEOUL, April 28 (Korea Bizwire) — Exports of passenger cars climbed 41 percent in the first quarter of 2023 from a year earlier to set a new record, data showed Friday, due to the robust overseas demand for eco-friendly vehicles.
Carmakers in South Korea shipped passenger cars worth a combined US$15.4 billion over the January-March period, rising sharply from $10.9 billion tallied a year earlier, according to the Korea Customs Service.
The number of cars shipped came to 680,000, also up 31 percent over the period.
Imports came to $3.7 billion, rising 24.6 percent on-year, the data also showed.
By destination, exports to the United States moved up 51.5 percent, with those to Canada and Australia jumping 55.3 percent and 16.6 percent, respectively.
The average price of cars shipped came to $22,578 during the cited period, up 7.6 percent on-year. That of imports reached $48,924, up 9.2 percent.
Exports of eco-friendly cars rose 68.4 percent to hit a fresh high of $6 billion, following the normalized supply of automotive chips, along with rising demand.
(Yonhap)
