Donghae Port's Export Value in the First Half of the Year Reaches $423.99 Million... Record High

Steady Growth in Electric Wire, Ferroalloys, and Northern Trade... 82% Increase Compared to Previous Year

Donghae Port's Export Value in the First Half of the Year Hits an All-Time High, Up 82% Compared to the Same Period Last Year [Donghae City]

[Asia Economy Reporter La Young-cheol] The export value through Donghae Port in Gangwon Province exceeded 400 million dollars for the first time in history in the first half of this year, and it is expected to set a new annual record for highest export performance.

According to the Northern Logistics Industry Promotion Agency in Donghae City on the 20th, the export value through Donghae Port in the first half of this year was 423.99 million dollars, marking an 82.6% increase compared to the same period last year.

Compared to 15.1% of South Korea's total exports and 15% of Gangwon Province's exports during the same period, the export growth rate of Donghae Port was remarkable.

The highest annual export value of Donghae Port was 606 million dollars, recorded in 2014.

If the current trend continues, it is expected that this year's export performance of Donghae Port will far surpass this record.

Looking at the export items through Donghae Port in the first half of the year, electric wires including submarine cables recorded 156.82 million dollars, accounting for 37% of the total.

Construction machinery and passenger cars followed with 106.27 million dollars, ferroalloys with 89.55 million dollars, and cement products with 34.9 million dollars.

While the top four product groups accounted for 91% of total exports, exports of daily necessities such as cosmetics, detergents, and tobacco also steadily increased.

By country, Russia, which had high exports of construction machinery and passenger cars, was the largest with 111.67 million dollars.

Next was Taiwan, which had high exports of submarine cables, with 107.05 million dollars, followed by the United States, the Netherlands, and Australia.

In particular, 17 countries recorded export performances exceeding 1 million dollars. Among them, due to diversification of export target countries, exports to Central Asian countries such as Mongolia, Kazakhstan, and Uzbekistan showed remarkable growth.

Choi Ho-young, Director of the Northern Logistics Industry Promotion Agency, analyzed, "Despite the unstable global situation, the record-high export performance of Donghae Port is due to the gradual emergence of synergy effects between Donghae Port and the hinterland of the port."

He added, "We will do our best to sustain the export growth trend through meticulous support for cargo owners, such as the Donghae Port container cargo attraction support project."

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