Accra:Automobile exports from South Korea decreased by 5.5 percent in September compared to the same period last year, influenced by ongoing tensions in the Middle East and a reduction in used-car shipments, according to government data released on Monday.

According to Yonhap News Agency, the Ministry of Trade, Industry and Resources reported that the export value fell to $6.05 billion from $6.4 billion in the previous year. The ministry attributed the decline to escalating tensions in the Middle East and stricter regulations affecting used-car exports in major markets.

Regional export performance varied, with shipments to North America and the European Union increasing by 9.2 percent and 15.3 percent, respectively, reaching $3.07 billion and $1.11 billion. However, exports to Asia and the Middle East experienced significant declines, plunging by 60 percent and 7.1 percent, respectively, to $330 million and $350 million.

Despite these challenges, exports of eco-friendly vehicles, including battery electric and gasoline hybrid models, rose by 5.9 percent, totaling $2.89 billion. On the domestic front, vehicle sales fell by 14.3 percent to 135,000 units, impacted by fewer working days due to the Chuseok holiday.

Production of locally manufactured vehicles increased by 3.7 percent to 347,000 units, as productivity improved following wage agreements between major automakers and labor unions. The government has pledged to support the sustainable growth of the automobile industry through close collaboration with the industry, especially as competition from Chinese automakers grows.