SEJONG, July 30 (Yonhap) -- South Korea's exports of passenger vehicles grew more than 3 percent on-year during the second quarter, bringing its trade surplus in the area to almost US$10 billion, customs data showed Tuesday.
South Korea sold $11.2 billion worth of passenger vehicles during the April-June period, up 3.3 percent from the same period a year earlier, according to the data by the Korea Customs Service. The exports expanded 5.3 percent from the previous quarter.
During the period, the country exported about 790,000 automobiles, while it imported some 42,000 foreign vehicles, the data showed.
The imports were valued at $1.2 billion, up 23.6 percent from a year earlier. They also expanded 14.8 percent from the previous quarter.
As a result, the country's trade surplus in terms of passenger vehicles came to $9.98 billion, the largest since the fourth quarter of 2011.
The average exporting prices of locally produced vehicles topped $14,000 for the first time during the second quarter, narrowing their price gap with imported automobiles, the data showed.
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