Chungnam Records Double-Digit Export Growth... Leading Nationwide Trade Surplus Last Month

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Export value in the Chungnam region has shown double-digit growth rates over the past three months. In particular, last month's trade surplus was confirmed to be the largest nationwide.

According to Chungnam Province and the Korea International Trade Association on the 23rd, Chungnam's export value decreased due to the impact of COVID-19 last year but turned around in September and increased for five consecutive months. Monthly growth rates recorded double digits, such as 10.8% in November, 20.1% in December, and 12.9% in January.

Especially last month, Chungnam recorded a trade surplus of $4.848 billion, the highest surplus nationwide. Last month, Chungnam's export value was $7.05 billion (12.9% increase from $6.244 billion in the same period last year), and import value was $2.21 billion (33.2% decrease from $3.297 billion in the same period last year).

By item, export value (growth rate) was highest in semiconductors at $3.151 billion (16.9%↑), followed by flat panel displays and sensors at $1.05 billion (49.0%↑), computers at $580 million (9.4%↑), synthetic resins at $165 million (19.4%↑), automobile parts at $149 million (72.4%↑), and batteries and accumulators at $113 million (33.9%↑).

Conversely, last month petroleum products were $364 million, down 36.2% compared to the same period last year, and petrochemical intermediate materials were $169 million, down 24.7% compared to the same period last year.

By country, Chungnam's export values were highest to China at $1.915 billion (25.0%↑), Vietnam at $1.644 billion (21.5%↑), Hong Kong at $1.118 billion (16.9%↑), Taiwan at $472 million (80.1%↑), and Japan at $208 million (6.8%↑).

The recovery trend in regional export status is attributed to the global strength of Chungnam's key items such as semiconductors, displays, and computers.

Kim Young-myeong, head of the provincial economic office, said, “Chungnam continues to lead the nation as second in exports and first in trade balance, driving domestic exports and trade surplus. The province plans to intensify market development activities focusing on emerging markets going forward.”

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