Gwangju Jeonnam Exports Increase by Over 20% for Three Consecutive Months

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[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Exports from the Gwangju and Jeonnam regions recorded a growth rate in the 20% range for three consecutive months.

According to the export-import trends for March announced by the Gwangju Main Customs on the 13th, exports from the Gwangju-Jeonnam region amounted to $5.686 billion, an increase of 21.5% compared to the same month last year.

Imports increased by 44.6% to $4.56 billion, and the trade balance recorded a surplus of $1.127 billion.

The total exports and imports combined through the end of March increased by 24.3% and 44.5%, respectively, compared to the same period last year.

The cumulative trade balance this year maintained a surplus of $2.98 billion.

By region, Gwangju's exports increased by 4.4% year-on-year to $1.544 billion, imports rose by 5.0% to $774 million, resulting in a trade surplus of $770 million.

Compared to the previous month's export performance of $1.251 billion, which recorded a 3.8% negative growth, this marks a slight but positive rebound.

By product category, exports increased in semiconductors (40.6%), home appliances (22.2%), machinery (17.4%), and tires (19.4%).

Exports and imports in the Jeonnam region increased by 29.4% and 56.7%, respectively, compared to the same month last year, reaching $4.143 billion and $3.786 billion, with a trade surplus of $357 million.

By product category, there were significant increases in exports of petroleum products (181.1%), chemical products (26.4%), and machinery (116.0%).

The Gwangju Main Customs explained that in March, semiconductors led exports in Gwangju, while chemical products and petroleum products were the key export items in Jeonnam.

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