Changwon Region Sees 7.8% Export Increase in Q3... Concentrated Impact of Deferred Export Volume from Q2
Changwon Chamber of Commerce and Industry Surveys Changwon Export-Import Trends in Q3... Export Conditions Expected to Remain Challenging
Export and Import, Trade Balance Trends of Changwon City. (Photo by Changwon Chamber of Commerce and Industry)
View original image[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Choi Hyun-joo] The Changwon Chamber of Commerce and Industry announced the results of the third-quarter export-import trend survey of Changwon on the 27th, based on export-import statistical data from the Korea International Trade Association.
According to Changwon Chamber of Commerce, Changwon's exports in the third quarter recorded $3.81742 billion, an increase of 7.8% compared to the same period last year. In particular, imports of intermediate goods and raw materials sharply decreased by 23.0% and 17.1%, respectively. Subsequently, exports increased while imports decreased, resulting in a trade surplus of $2.59295 billion, up 21.5%.
During the same period, exports from Gyeongnam reached $7.84993 billion, down 18.6%. Imports decreased by 29.1% to $3.76937 billion. Nationwide exports fell by 3.2% to $130.3671 billion, and imports decreased by 9.0% to $113.78172 billion.
Changwon's export value in the third quarter accounted for 48.6% of Gyeongnam's total exports and 2.9% of the national total, while imports accounted for 32.5% of Gyeongnam and 1.1% nationwide. The trade balance drove 63.5% of Gyeongnam's and 15.7% of the national trade surplus.
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A representative from the Changwon Chamber of Commerce stated, "Export performance increased as export volumes that were not processed in the second quarter were concentrated in the third quarter, but the conditions and environment of the export market have still significantly deteriorated. Given the sharp decline in imports of raw materials and intermediate goods necessary for future exports and the continued depreciation of the exchange rate, it is necessary to prepare support measures for export companies."
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