World

S.Korea's automotive export grows 8.6 pct in 2021

SEOUL
2022-01-18 13:39

Already collect



SEOUL, Jan. 18 (Xinhua) -- South Korea's automotive export grew 8.6 percent last year due to the global demand recovery from the COVID-19 pandemic, a government report showed Tuesday.

The number of vehicles shipped overseas was 2.05 million in 2021, according to the Ministry of Trade, Industry and Energy.

In terms of value, the outbound shipment soared 24.2 percent to 46.47 billion U.S. dollars last year.

The export growth was attributable to the global demand recovery from the pandemic and solid demand for high-priced environment-friendly vehicles.

The shipment of auto parts advanced 22.2 percent over the year to 22.78 billion dollars in 2021.

The number of vehicles produced in local factories was 3.46 million in 2021, down 1.3 percent from the prior year.

The number of cars sold in the domestic market declined 8.5 percent to 1.73 million last year.

The reduction was caused by the supply shortage of semiconductors used to manufacture cars.
Add comments

Latest comments

Latest News
News Most Viewed