S. Korea's forklift exports up 57% through May

South Korea's forklift exports jumped nearly 57 percent on-year in the first five months of 2023, data showed Friday, following a rebound in the global construction industry.

Exports of forklifts reached $525 million from January to May this year, reaching a record-high amount for the period, according to the data compiled by the Korea Customs Service.

The agency attributed the growth to increasing demand from construction sites worldwide, as some companies in major countries shifted their overseas factories back home amid the restructuring of global supply chains.

Models powered by fuel accounted for 75.9 percent of exports, followed by those running on electricity with 20.8 percent.

By destination, outbound shipments to the United States accounted for 70.5 percent, followed by China with 5.2 percent and Belgium with 3.4 percent, the data showed. (Yonhap)