GWANGJU < invest Korea

According to Gwangju Main Customs last week, Gwangju and South Jeolla’s exports in August increased by 14 percent year-on-year to reach USD 4,93 billion. Imports decreased by 2 percent to stand at USD 4.2 billion, leading to a trade surplus of USD 730 million.

As of the end of August, accumulated exports and imports recorded USD 38.5 billion and USD 33.3 billion respectively, to reach a trade surplus of USD 5.2 billion.

Gwangju’s exports in August reached USD 1.21 billion and imports stood at USD 390 million, resulting in a trade surplus of USD 820 million.

Exports of semiconductors (57 percent ↑), automobiles (17 percent ↑), machinery and precision equipment (6 percent ↑) increased, whereas exports of steel products (51 percent ↓), tires and tubes (11 percent ↓), and household appliances (4 percent ↓) decreased.

Imports of household appliances (66 percent ↑), machinery and precision equipment (47 percent ↑), raw materials for semiconductors (4 percent ↑), and steel products (3 percent ↑) grew, while rubber (31 percent ↓) and fire-processed product (12 percent ↓) imports were reduced.

South Jeolla’s exports and imports in August recorded USD 3.71 billion and USD 3.81 billion respectively, reaching a trade deficit of USD 90 million.

Exports of ships (112 percent ↑), oil products (24 percent ↑), and fire-processed products (14 percent ↑) rose, whereas steel product exports (23 percent ↓) were dropped.

Imports of oil products (36 percent ↑) and crude oil (4 percent ↑) increased when fire-processed products (46 percent ↓), iron ore (23 percent ↓), and coal (18 percent) imports decreased.

Source Text

Source: Yonhap News (Sep. 17, 2013)

** This article was translated from the Korean.