DAEGU < invest Korea

According to Newsis,

It was found that exports of Daegu and Gyeongsangbuk-do increased significantly due to the increase in exports of new promising industries such as implants and vaccines.

According to the 'August 2021 Export and Import Trends and Assessments of Daegu-Gyeongbuk,' announced by the Daegu-Gyeongbuk Office of the Korea International Trade Association on September 16, Daegu's exports last month increased by 31.5% to USD 576 million, and imports increased by 42.6% to USD 430 million.

In Gyeongbuk, exports rose 36.9 % to USD 3.76 billion and imports rose 65.4% to USD 1.7 billion.

Daegu recorded an export growth rate of more than 30% for five consecutive months since April, while Gyeongbuk achieved the highest export performance this year.

It seemed that the emergence of medical devices and pharmaceuticals as new export-contributing products due to COVID-19, and a series of launch of new smartphone models contributed to stable growth trends of regional exports.

In Daegu, medical devices including implants entered the top 10 export items for the first time, centered on the US market, and Daegu's policy to foster new future industries seemed to have borne fruits.

In Gyeongbuk, where exports increased mainly in China and the US market, export demand for TV cameras and receivers (3675.5%) and wireless phones (137.2%) were found to have increased.

Pharmaceutical exports also rose for two months in a row, 702% in July and 117% in August, led by vaccine exports.

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Source: Newsis (September 16, 2021)