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According to Yonhap News,
Exports from Gwangju and Jeollanam-do increased significantly despite the shockwave from the COVID-19 pandemic last year.
Even in the midst of the COVID-19 pandemic, it also recovered USD 50 billion in exports.
According to the regional import and export trends announced by the Gwangju Regional Customs on January 13, exports last year amounted to USD 58.79 billion, up 43.9% from USD 40.86 billion in 2020.
In terms of the amount alone, it increased by USD 17.928 billion.
By region, Gwangju accounted for 27.4% of the total, or USD 16.12 billion, and Jeonnam accounted for 72.6%, with USD 42.689 billion.
In 2020, the first year in which the COVID-19 broke out, the cumulative export amount was USD 13.77 billion in Gwangju and USD 27.92 billion in Jeonnam.
After an 11% decrease (USD 5.2 billion) the following year from USD 46.02 billion in 2019, before the outbreak of the COVID-19 pandemic, exports completely recovered from slump last year.
In particular, it far surpassed the record set in 2018 (USD 51.286 billion), when it broke the USD 50 billion mark for the first time as the region.
Imports also recovered, after significantly decreasing from USD 38.7 billion in 2019 to USD 29.5 billion in 2020, and to USD 44.89 billion last year.
Last year, the trade balance was USD 13.895 billion, recording a large surplus compared to USD 11.36 billion in 2020 and USD 7.295 billion in 2019.
When it comes to the major export items by region, it was transportation equipment that was ranked 1st with USD 5.95 billion, followed by semiconductors with USD 4.97 billion.
The two items accounted for 37.0% and 30.8% of Gwangju's exports, accounting for two-thirds of the total.
It was followed by home appliances (USD 1.42 billion), machinery (USD 780 million), and tires (USD 600 million).
In Jeollanam-do, chemical products ranked first in exports with USD 16.6 billion (38.9%), followed by petroleum products (USD 11.37 billion), steel products (USD 7.5 billion), and transportation equipment (USD 3.33 billion).
It means that the Yeosu National Industrial Complex and Gwangyang Steel Mill played a main role in driving exports.
nicepen@yna.co.kr
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Source: Yonhap News (January 13, 2022)
** This article was translated from Korean.