Chungnam Surpasses $100 Billion in Exports for Two Consecutive Years

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Export value from the Chungnam region has exceeded 100 billion dollars for two consecutive years.

Chungnam Province announced on the 27th that as of the end of last month, the total export value of local companies this year was recorded at $100.341 billion.

This represents a 6.8% increase compared to the export value of $93.978 billion during the same period last year (January to November), making Chungnam the second largest export region nationwide after Gyeonggi Province ($126 billion).

In particular, the province expects that when this month's export value is added, it will surpass last year's annual export value of $104.116 billion (January to December).

If it exceeds last year's export value, Chungnam will set a new record for the highest export value ever, achieving over $100 billion in exports for two consecutive years.

As of last month, export values by item were recorded as follows: semiconductors $42.067 billion, flat panel displays and sensors $12.175 billion, computers $10.088 billion, petroleum products $9.573 billion, synthetic resins $3.336 billion, petrochemical intermediate materials $2.434 billion, basic oil fractions $1.780 billion, batteries and accumulators $1.665 billion, precision chemical raw materials $1.630 billion, and automobile parts $1.596 billion.

By country, China accounted for the largest export value at $23.051 billion (5.1% decrease from the previous year), followed by Vietnam $21.290 billion (19.9% increase), the United States $12.148 billion (19% increase), Hong Kong $11.995 billion (26.3% decrease), Taiwan $6.853 billion (12.8% increase), Singapore $2.975 billion (50.5% increase), Japan $2.431 billion (5.3% decrease), and India $2.419 billion (28.3% increase).

Although not included in the top export rankings, the increase in export volume to Australia and New Zealand is also a notable feature. As of last month, exports to Australia amounted to $2.077 billion, a 275.5% increase compared to the previous year, and exports to New Zealand were $1.481 billion, a 129.3% increase.

The trade surplus of the Chungnam region up to last month was $53.58 billion, maintaining the top position nationwide. During the same period, the country as a whole recorded a trade deficit of $42.5 billion.

Meanwhile, the province has promoted 28 projects this year to support exports by small and medium-sized enterprises, including the use of autonomous export bases, support for export-import insurance premiums and credit investigations, dispatch of overseas market development teams, and support for transforming domestic companies into export companies.

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