Gwangju and Jeonnam Record USD 1.81 Billion Trade Surplus Last Month

Last month, the trade balance for the Gwangju and Jeonnam regions recorded a surplus of USD 1.81 billion. Exports totaled USD 5.99 billion, up 31.7% compared to the same month last year, while imports stood at USD 4.17 billion, a 33.5% increase year-on-year.

March Export and Import Status of Gwangju and Jeonnam Regions. Provided by Korea Customs Service

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In March, Gwangju's exports reached USD 1.59 billion, representing an 18.7% increase from the same month last year and a 14.3% rise from the previous month. Imports amounted to USD 900 million, up 26.1%, resulting in a trade surplus of USD 680 million.

By item, semiconductors (+57.1%) and transportation equipment (+16.3%) led export growth. Conversely, exports of home appliances (-30.5%), rubber tires and tubes (-29.8%), and machinery and precision instruments (-2.0%) declined.

By destination, exports to the European Union (+71.8%), Southeast Asia (+50.9%), and Central and South America (+40.3%) saw significant increases. However, exports to the United States (-37.8%) continued to decline for the third consecutive month, and exports to China (-8.6%) fell for the second consecutive month. In terms of imports, only those from the United States (-42.9%) decreased, while imports from China (+46.0%), Japan (+91.9%), and Southeast Asia (+28.7%) all increased.

In Jeonnam, March exports reached USD 4.4 billion, marking a 37.1% rise from the same month last year and a 26.5% increase from the previous month. Imports totaled USD 3.27 billion, up 35.7%, resulting in a trade surplus of USD 1.13 billion.

Among export items, petroleum products (+197.4%) nearly doubled, while machinery and precision instruments (+63.5%) and chemical products (+5.9%) also increased. However, exports of steel products (-7.3%) and transportation equipment (-22.2%) declined.

By country, exports to Southeast Asia (+78.9%), Japan (+43.0%), the United States (+31.6%), and China (+23.3%) all increased. Notably, exports to China rebounded after three months, and exports to the United States rose after two months. Only exports to the European Union (-15.9%) declined. Imports generally rose, especially in energy and raw materials such as crude oil (+55.2%), petroleum products (+30.8%), and chemical products (+21.4%).

Despite simultaneous declines in exports to the United States and China, Gwangju maintained growth by diversifying exports to Europe and Southeast Asia. In Jeonnam, strong performance in petroleum products and a recovery in exports to major trading partners drove a significant surplus.

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