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S. Korea's Auto Production, Exports Jump in April Despite Chip Shortage

Write: 2021-05-16 12:21:22Update: 2021-05-16 13:34:40

S. Korea's Auto Production, Exports Jump in April Despite Chip Shortage

Photo : YONHAP News

South Korea posted double-digit growth in both production and exports of automobiles last month despite the chip shortage for the auto industry.

According to data by the Ministry of Trade, Industry and Energy on Sunday, the country's production of automobiles rose eleven-point-eight percent in April from a year earlier.

Auto exports reached 188-thousand-293 units last month, up 52-point-eight percent on-year.

A ministry official said that although auto production was disrupted by the chip shortage, the nation still posted growth in output on the back of strong exports coupled with a base effect. 

The country's car exports plunged 44-point-six percent on-year in April 2020 amid the COVID-19 pandemic.

Meanwhile, domestic auto sales fell by three-point-eight percent on-year in April.

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