Gwangju Region Transport Equipment Export Amount Increases by 5.7% Year-on-Year

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Exports from the Gwangju and Jeonnam regions have increased compared to the previous year.

According to the 2021 export trends of transportation equipment in the Gwangju and Jeonnam regions announced by the Gwangju Main Customs Office on the 10th, exports of transportation equipment from the Gwangju region increased by 5.7% year-on-year to $5.95366 billion, while Jeonnam recorded $3.32911 billion, up 8.7% from the previous year.

The increase in exports from the Gwangju region was driven by automobiles and automobile parts, while the increase in Jeonnam's exports was led by ships.

Among the key industries in the Gwangju region, exports of automobile parts (153.2%), cargo trucks (22.9%), and ship parts (24,162%) increased compared to the previous year, while passenger cars (1.6%) decreased.

In the Jeonnam region, exports of ships (9.4%) increased compared to the previous year, whereas automobile parts (13.1%), cargo trucks (65.2%), other transportation equipment (13.0%), and passenger cars (17.6%) declined.

Looking at the export trends by major items in the Gwangju and Jeonnam regions over the past five years, exports had been declining until 2019 but turned to an increasing trend after 2020.

Future transportation equipment-related industries such as small electric vehicles, electric vehicle chargers, and hydrogen vehicle parts centered around the Yeonggwang Daema Industrial Complex began exports in 2016, showing a sharp increase of 171.3% in 2020, but grew by 7.7% last year.

Agricultural drones also increased by 945% in 2020 compared to the previous year but decreased by 95.1% in 2021.

Regional automobile exports face difficulties in expecting export growth due to unstable semiconductor supply, while ship exports are expected to continue strong this year as orders for high value-added LNG ships remain.

Electric vehicle batteries started their first exports to Europe this year, aiming for $100 million in exports.

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