Gwangju-Jeonnam February Trade Balance Surplus of 1.061 Billion USD

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] It has been revealed that the trade balance in the Gwangju-Jeonnam region recorded a surplus in February.

According to the export-import trends announced by the Gwangju Main Customs Office on the 15th, exports in the Gwangju-Jeonnam region in February increased by 29.1% compared to the same month last year to $5.444 billion, imports increased by 46.8% to $4.383 billion, and the trade balance recorded a surplus of $1.061 billion.

Exports from the Gwangju area were mainly driven by semiconductors, while exports of chemical products and petroleum products increased in the Jeonnam area.

First, exports from the Gwangju area recorded $1.251 billion, down 3.8% year-on-year, and imports recorded $717 million, up 23.8%, resulting in a trade surplus of $534 million.

By item, exports increased in semiconductors (28.9%), machinery (22.4%), and tires (29.6%), while transportation equipment (33.1%) and home appliances (14.3%) decreased.

Imports increased in semiconductors (20.0%), rubber (47.4%), and home appliances (66.5%), while machinery (12.6%) and chemical products (2.5%) decreased.

Exports from the Jeonnam area recorded $4.193 billion, up 43.7%, and imports recorded $3.666 billion, up 52.3%, resulting in a trade surplus of $527 million.

By item, exports increased in chemical products (36.7%), petroleum products (66.6%), steel products (20.3%), and transportation equipment (79.6%), while machinery (21.2%) decreased.

Imports increased in crude oil (70.6%), coal (112.0%), petroleum products (13.8%), and chemical products (40.1%), while iron ore (25.1%) decreased.

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