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S.Korea's automotive export logs double-digit growth in April

SEOUL
2022-05-16 13:14

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SEOUL, May 16 (Xinhua) -- South Korea's automotive export logged a double-digit growth last month despite lower car production, caused by the continued disruption of the global supply chain, a government report showed Monday.

The number of exported vehicles was 196,780 in April, up 12.4 percent from a year earlier, according to the Ministry of Trade, Industry and Energy.

In terms of value, the automotive shipment grew 6.1 percent over the year to 4.4 billion U.S. dollars in April.

It was attributed to strong global demand for environmentally-friendly vehicles, of which export accounted for 24.4 percent of the total automotive shipment. It was up 4.9 percentage points from a year earlier.

The number of cars produced in local factories was 306,462 in April, down 5.3 percent from a year earlier.

The shortage continued for semiconductors used to make vehicles, leading to lower automotive production.

In the domestic market, car sales retreated 11.1 percent from a year earlier to 143,167 units last month.
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