South Korea’s automobile industry is expected to grow both in terms of its output and sales next year, the government said Monday.

“Despite continuing global economic uncertainties, the automobile industry is expected to show slight gains in overseas sales, as well as its output and exports in 2014,” the Ministry of Trade, Industry and Energy said in a press release.

The ministry said the combined domestic output by the country’s five automakers is expected to shrink 1.4 percent this year from 2012, largely due to a 13.9 percent spike in their combined overseas production.

In 2014, however, their domestic output is expected to gain 2.2 percent on-year with their overseas output also growing 6.3 percent, the ministry said.

The automakers’ overseas sales are expected to rise 3.2 percent on-year to about 3.2 million vehicles next year, while their combined domestic sales are likely to remain unchanged from this year at about 1.4 million units. (Yonhap News)