Gumi National Industrial Complex, February Exports Up 10% and Imports Up 41% Year-on-Year

Gumi National Industrial Complex panorama (Photo by Gumi Chamber of Commerce and Industry)

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Young-wook] The export value of the Gumi National Industrial Complex in Gyeongbuk increased by 10% in February this year compared to the same period last year.

According to the Gumi Customs Office of the Korea Customs Service on the 12th, last month, the export value of the Gumi National Industrial Complex was $1.922 billion, up 10% from $1.747 billion in February last year. Imports amounted to $768 million, a 41% increase compared to $543 million last year.

The trade balance showed a surplus of $1.154 billion, a 4% decrease from $1.204 billion in the same month last year.

The main export items were electronics (52%), optical products (12%), machinery (7%), plastics (6%), and textiles (4%). Export destinations were China (30%), the United States (18%), Vietnam (12%), Europe (10%), Southeast Asia (7%), the Middle East (6%), Latin America (5%), Japan (4%), and Hong Kong (3%).

Imported items were electronic components (78%), optical devices (10%), chemical products (5%), machinery (3%), and textiles (1%). Import regions were Southeast Asia (37%), Vietnam (29%), Japan (15%), China (12%), Europe (3%), the United States (3%), and Latin America (1%).

Kwon Shin-hee, head of the Customs Clearance Support Division at Gumi Customs, explained, "Exports had been declining compared to the same month last year but increased in February," adding, "Exports of electronics and optical products led the upward trend."

This content was produced with the assistance of AI translation services.