Yonhap reported that South Korean exports to Libya are expected to reach a record high this year, led by brisk sales of automobiles and construction equipment.

According to the Korea Trade Investment Promotion Agency, South Korea's shipments to the Arab country amounted to USD 976 million in the first 10 months of 2009, up by 63% YoY. The figure also topped last year's total exports of USD 820 million to Libya and annual exports to the country are likely to top USD 1.1 billion.

Exports of automobiles led the robust sales reaching USD 430 million in the first 10 months of the year. The reading accounted for 43% of the total. Sales of construction equipment in Libya also surged as a slew of South Korean companies won massive construction projects.

(Sourced from www.yonhapnews.co.kr)