S. Korea's Automotive Export Hits Record High In February

SEOUL, (UrduPoint / Pakistan Point News - 22nd Mar, 2023 ) :South Korea's automotive export hit a record high in February thanks to robust demand for eco-friendly vehicles, government data showed Wednesday.

Car shipment soared 47.1 percent from a year earlier to 5.6 billion U.S. Dollars in February, according to the Ministry of Trade, Industry and Energy.

The latest figure marks the country's highest monthly auto shipment, which has continued to grow for the seventh consecutive month since August last year.

The number of exported vehicles was 222,934 in February, up 34.8 percent from a year earlier.

Export for eco-friendly cars jumped 83.4 percent to 2.02 billion dollars during the cited period, while the number of the exported units surged 61.6 percent to a record high of 63,000.

The number of vehicles manufactured in local factories increased 30.2 percent over the year to 343,575 in February on the back of the eased supply disruption of semiconductors used to make cars.