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October 26, 2009
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| Korea’s car exports to the Middle East and Africa are rising sharply as demand in those oil-producing regions gathers momentum, a trade association said yesterday. According to the Korea Automobile Manufacturers Association, leader Hyundai Motor Co. and other Korean carmakers exported 46,034 units to the Middle East last month, up 83.8 percent from a year earlier. Shipments to African countries also soared 38.8 percent on-year to 17,528 vehicles in September, the association said. In the July-September period, auto exports to the Middle East jumped 38 percent on-year to 106,132 units, with shipments to Africa rising 25.2 percent to 44,253. “Demand in the Middle Eastern and African markets is rising thanks to increased fiscal spending by governments there following a recent surge in crude prices,” a KAMA official said. Hit by the global economic slowdown, Korean car exports to the Middle East fell 12.9 percent from a year earlier to 87,747 units in the second quarter, with shipments to Africa sinking 25.2 percent to 37,088 vehicles, the association said. Yonhap |
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