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S.Korea's export of passenger cars hits record high in Q3

SEOUL
2022-10-31 15:31

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SEOUL, Oct. 31 (Xinhua) -- South Korea's export of passenger cars hit a record high in the third quarter due to high demand for eco-friendly vehicles, customs office data showed Monday.

Passenger vehicles shipment jumped 30.1 percent from a year earlier to reach a new quarterly high of 12.63 billion U.S. dollars in the July-September quarter, according to Korea Customs Service.

It was attributable to robust demand for eco-friendly vehicles and the improved supply of semiconductors used to produce cars.

Export for eco-friendly passenger vehicles spiked 42.3 percent to post a fresh high of 4.05 billion dollars in the cited quarter.

Passenger car export to the United States, Canada, Australia, Germany, Saudi Arabia and Spain grew in double digits in the third quarter, but shipment to France, Vietnam and the Netherlands retreated in double figures.

Import for passenger cars expanded 17.7 percent over the year to 3.5 billion dollars in the third quarter.

The import of eco-friendly passenger vehicles soared 29.3 percent to 1.79 billion dollars.
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