Exports of Korea-made washing machines nearly tripled in Australia and New Zealand for the first three months of the year on the implementation of free trade pacts with the countries, customs data showed Tuesday.
Shipments of washers to the two Oceanian nations reached a combined $6.17 million over the January-March period, up from $2.23 million a year earlier, according to the data compiled by the Korea Customs Service.
Over the cited period, Korea's washing machine exports fell 3.4 percent on-year, while the country's entire exports slumped 13.1 percent.
The customs office said free trade agreements (FTAs) with the two countries contributed to the sharp increase.
As the Korea-Australia FTA, that removes a 5 percent tariff on the home appliances, took effect in 2014, washing machine exports jumped 32.1 percent on-year to $16 million in 2015 and 164 percent to $5.7 million in the first quarter of this year.
The FTA with New Zealand, which came into effect in December last year, helped Korea's exports of washers skyrocket 676 percent on-year to $430,000 over the three-month period. (Yonhap)
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