Gwangju Export Decline in 3Q This Year... 2% Decrease Compared to Last Year

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Exports in the Gwangju region declined in the third quarter of this year compared to last year.

According to the export-import trends announced on the 19th by the Korea International Trade Association Gwangju-Jeonnam Regional Headquarters, exports amounted to 3.82 billion dollars, a 2% decrease compared to the same period last year.

However, major export items such as ▲automobiles (2.4%) ▲semiconductors (27.3%) ▲refrigerators (44.5%) ▲rubber products (34.5%) ▲batteries and accumulators (26.1%) all increased.

In particular, automobiles showed strong performance as demand for domestic models such as sports utility vehicles (SUVs) and eco-friendly cars continued to rise.

By country, exports increased to ▲the United States (9.1%) ▲Singapore (51.9%) ▲China (6.1%) ▲Malaysia (16.1%) ▲Taiwan (100.4%) ▲Vietnam (11.6%), while ▲Canada (-5.5%) showed a decline due to decreased exports of batteries and accumulators.

Imports recorded 2.1 billion dollars, an increase of 22.1% based on the same criteria.

The trade balance maintained a surplus trend at 1.8 billion dollars.

Exports in the Jeonnam region rose by 61.6% to 11.6 billion dollars, imports increased by 78.1% to 9.91 billion dollars, and the trade balance recorded a surplus of 1.7 billion dollars.