GWANGJU < invest Korea

According to Yonhap News,

Exports in Gwangju and Joellanam-do in May increased sharply by more than 40%.

According to the import and export trends for May announced by the Gwangju Customs Office on June 13, exports in Gwangju and Jeonnam amounted to USD 7.25 billion, up 45.5% year-on-year.

Imports rose 58.3% to USD 5.631 billion, and the trade balance recorded a surplus of USD 1.574 billion.

Regional exports, which recorded around 20% growth for three months in a row this year, seemed to have slown down with 6% growh in April. However, it jumped sharply this time.

By the end of May, cumulative exports increased by 25.4% (USD 28.21 billion) and imports by 45.2% (USD 23.298 billion), respectively, compared to the same period last year.

The trade surplus amounted to USD 4.912 billion.

By region, Gwangju's exports increased by 24.0% year-on-year to USD 1.618 billion, imports increased 21.5% to USD 833 million, while the trade surplus recording USD 788 million.

By item, semiconductors (37.9%), transportation equipment (29.2%), machinery (50.5%), and tires (30.5%) led exports.


nicepen@yna.co.kr

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Source: Yonhap News (June 13, 2022)