Trade Surplus of $1.068 Billion in Gwangju and Jeonnam in August

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] In August, the Gwangju-Jeonnam region recorded a trade surplus of 1.068 billion dollars, driven by an increase in exports.

The Gwangju Main Customs Office announced the 'Gwangju-Jeonnam Region Export-Import Trends' on the day.

According to the report, exports from Gwangju-Jeonnam increased by 38.7% compared to the same month last year, reaching 5.122 billion dollars, while imports rose by 69.8% to 4.054 billion dollars.

From January to the end of August this year, cumulative exports increased by 42.6% and imports by 43.5% compared to the same period last year, resulting in a trade surplus of 9.835 billion dollars.

Exports from the Gwangju area rose 4.1% year-on-year to 1.206 billion dollars, imports increased by 34.3% to 709 million dollars, and the trade surplus stood at 497 million dollars.

By item, export growth rates rose in semiconductors (17.4%), home appliances (6.1%), machinery (5.2%), and tires (48.6%), while transportation equipment (14.9%) declined.

Imports increased in semiconductors (33.3%), home appliances (31.0%), rubber (239.7%), and chemical products (16.5%), whereas machinery (8.6%) decreased.

Exports from the Jeonnam area increased by 54.5% year-on-year to 3.916 billion dollars, imports rose by 79.8% to 3.345 billion dollars, resulting in a trade surplus of 571 million dollars.

By item, export growth rates increased in chemical products (74.1%), petroleum products (71.0%), steel products (189.1%), and machinery (1.3%), while transportation equipment (45.6%) decreased.

Imports increased in crude oil (64.7%), coal (59.6%), petroleum products (149.8%), iron ore (97.8%), and chemical products (99.7%).

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