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S. Korea's Auto Exports Hit Record High in First Half of 2024

Written: 2024-07-16 11:29:53Updated: 2024-07-16 15:14:16

S. Korea's Auto Exports Hit Record High in First Half of 2024

Photo : YONHAP News

The country’s auto exports grew by nearly four percent in the first half of the year to hit a new record high.

According to data from the Ministry of Trade, Industry and Energy on Tuesday, automobile exports increased three-point-eight percent on-year during the first six months of the year to reach 37 billion U.S. dollars.

That represents the largest first-half figure that replaced the previous record of 35-point-six billion dollars set last year.

South Korea's auto exports for the six-month period posted growth for four consecutive years since 2021.

The growth was led by robust car exports to North America, which jumped 25-point-nine percent on-year in the first half. 

Shipments to Europe decreased 22-point-seven percent due to a fall in exports of electric vehicles.

Exports to Asia and the Middle East slipped eleven-point-two percent and 17-point-seven percent, respectively.

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