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The South Korean automobile industry saw its trade surplus exceed the US$60
billion mark for the first time in 2012 on the back of steady exports to
emerging countries, government data showed Tuesday.
The country's car
and auto parts industries posted a trade surplus of $61.7 billion last year, up
5.8 percent from a surplus of $58.3 billion for 2011, according to the data
compiled by the Ministry of Knowledge and Economy. Carmakers logged a surplus of
$42 billion, while the auto parts industry contributed to the rest.
The figure is much larger than South Korea's overall trade surplus of $28.5
billion for last year, which was down 7.5 percent from the previous year's $30.8
billion.
The data showed South Korea's car exports climbed 0.4 percent
on-year to 3.17 million units last year. Exports to the United States, Eastern
European nations and Africa offset a decline in shipments to the European Union
and South America.
The value of car exports reached $47.2 billion in
2012, up 4 percent from the previous year's $45.3 billion.
Exports of
auto parts rose 6.5 percent on-year to $24.6 billion thanks to an increased
supply to South Korean automakers' overseas units and to foreign car
manufacturers.
Imports of auto components, however, fell to $4.9
billion last year from $5.8 billion.
"As the quality and brand image
of South Korean cars are improving abroad, car shipments will continue its
upward tendency this year," said an industry official.