Despite COVID-19, Export Path Remains Strong... Daegu City Records $7.9 Billion in Exports Last Year, Second Highest Ever

Export Growth Trend Expected to Continue This Year for Secondary Battery Materials

Daegu Trade Center.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Despite the adverse effects of COVID-19, exports from the Daegu region last year achieved the second-highest performance since 2018.

According to trade statistics from the Korea International Trade Association on the 18th, regional exports increased by 26.6% from the previous year, reaching $7.93 billion.

This figure surpasses the pre-COVID-19 level of $7.5 billion.

Due to the COVID-19 pandemic causing global supply disruptions and restrictions on international movement, machinery and textiles experienced a severe export slump, recording $6.26 billion, a 16.4% decrease compared to the previous year.

However, as global trade showed signs of recovery last year, regional exports rose 26.6% year-on-year to $7.93 billion, demonstrating a strong export trend.

Additionally, December of last year set a new record for the highest monthly export at $812 million, breaking the previous record.

Although uncertainties remain this year, such as the spread of variant viruses, delays in global supply chain recovery, and persistent high inflation, the global economy is showing signs of recovery, and trade growth is expected to continue steadily.

According to the "Daegu-Gyeongbuk 2021 Export-Import Evaluation and Outlook" report released by the Korea International Trade Association Daegu-Gyeongbuk Regional Headquarters, secondary battery materials and other sectors are predicted to drive regional exports this year.

In response, the city plans to actively promote overseas marketing projects for local companies, including hosting virtual consultation meetings using the metaverse for digital trade support and utilizing overseas online platforms to sustain export growth.

Daegu Mayor Kwon Young-jin stated, "We will do our best to maintain the steady recovery of the regional economy and further strengthen strategic trade support to cope with the rapidly changing trade environment."