South Korea’s exports of automobiles edged down 2.9 percent in July from a year earlier as the global supply shortages of automotive chips hindered production, data showed Wednesday.
The ministry attributed the decrease to a low base effect, as overseas shipments of cars gathered ground in July 2020 after the demand sharply fell earlier in the year amid the COVID-19 pandemic.
Production of automobiles fell 13.9 percent on-year to 297,585 units in July amid the supply shortages of automotive chips, and the local demand also fell 9.6 percent to 147,697 units amid the lack of new models.