Gwangju-Jeonnam Trade Balance Surplus of 1.348 Billion USD

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Exports, imports, and trade balance in the Gwangju-Jeonnam region have all improved.

According to the October export-import trends of the Gwangju-Jeonnam region announced by the Gwangju Main Customs Office (Customs Director Jeong Seung-hwan) on the 15th, exports recorded $5.492 billion, an increase of 55.8% compared to the same month last year, and imports recorded $4.144 billion, an increase of 66.9%.

The trade balance recorded a surplus of $1.348 billion.

On a cumulative basis up to last October, exports increased by 43.3%, imports by 47.5%, resulting in a trade surplus of $12.096 billion.

By region, Gwangju's exports increased by 0.1% to $1.328 billion, and imports increased by 9.2% to $672 million. The trade balance showed a surplus of $656 million.

Mainly driven by items such as semiconductors (37.1%), home appliances (3.4%), machinery (19.0%), and tires (4.9%), while transport equipment (23.4%) declined.

In the import sector, semiconductors (1.4%), home appliances (18.6%), rubber (140.2%), and chemical products (7.0%) increased, whereas machinery (17.1%) decreased.

Exports increased to Southeast Asia (9.6%), the United States (4.1%), China (4.5%), and the EU (6.8%), but decreased to the Middle East (12.9%).

Imports increased from the EU (23.2%) and Japan (1.2%), while decreasing from Southeast Asia (2.3%), China (4.0%), and the United States (13.9%).

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