Gyeonggi-do July Export Value Hits $12 Billion... Highest This Year

19.7% Increase Compared to the Same Period Last Year
Analysis of the Effects of Non-Face-to-Face and Online Export Support Projects

Archive photo (2021 G-FAIR Tokyo Opening) [Provided by Gyeonggi-do]

[Asia Economy Reporter Ra Young-cheol] Gyeonggi Province's export value in July reached 12 billion dollars, marking the highest level this year. This accounts for 21.7% of South Korea's total exports and represents a 19.7% increase compared to the same period last year.

On the 23rd, Gyeonggi Province stated, "From March to July this year, we have maintained export performance exceeding 10 billion dollars for five consecutive months, showing a favorable trend despite the challenging trade environment."

According to the province, exports to Gyeonggi's three major markets?the United States, ASEAN, and China?increased by 52.6%, 19.9%, and 11.8% respectively compared to the same period last year. The leading export items driving growth were semiconductors and automobiles, which maintained double-digit growth rates of 24.2% and 15.8%, respectively.

The province attributed these achievements to various export support projects implemented since last year using non-face-to-face and online methods, export consultation results from overseas trade fairs (Gyeonggi Excellent Products Overseas Exhibition), and overseas market development marketing activities by the Gyeonggi Business Center (GBC).

Additionally, through 'one-stop comprehensive export support'?from buyer discovery to local video consultations and follow-up management?325 companies secured export contracts worth 27 million dollars by July.

Ryu Gwang-yeol, Director of the Economic Office, said, "We recorded export performance through various policy supports, including supplementing the limitations of non-face-to-face export support in line with the economic recovery trends of major global markets," adding, "We will assist export SMEs facing difficulties with customized support by country."

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