Exports in Gwangju and Jeonnam Regions Increased in Last Year 4Q

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Exports in the Gwangju and Jeonnam regions increased in the fourth quarter of last year.

According to export trends announced by the Gwangju Regional Customs Office, exports in the Gwangju region in the fourth quarter of last year increased by 12.5% compared to the same period the previous year, reaching $4.299 billion, and exports in the Jeonnam region increased by 69.3% to $12.04 billion.

The increase in exports in the Gwangju region was driven by automobiles and semiconductors, while the increase in the Jeonnam region was led by petroleum products.

For the entire year, export performance increased by 16.9% in the Gwangju region and 57.6% in the Jeonnam region compared to the previous year.

By major industry, based on the fourth quarter, exports in the Gwangju region increased in automobiles (20.7%), semiconductors (14.1%), home appliances (0.6%), tires (4.5%), and machinery (55.9%).

In the Jeonnam region, exports increased in chemical products (0.3%), petroleum products (13.0%), steel products (0.3%), and machinery (1152.2%), but ship exports decreased by 17.0%.

By export country, in the Gwangju region, exports increased compared to the previous quarter to the United States (5.8%), Singapore (30.4%), China (1.4%), and Taiwan (11.0%), while exports to Malaysia decreased by 6.9%.

In the Jeonnam region, exports increased to China (3.7%), Japan (23.5%), Australia (99.5%), and Taiwan (32.5%), but decreased to the United States by 15.4%.

The K-Food industry in the Gwangju region, which has high future growth potential, recorded $27 million, an increase of 20.1%, while the Jeonnam region recorded $169 million, an increase of 26.0%.

Vaccine exports from the Jeonnam region achieved export performance of $20 million, an increase of 329.8% compared to the previous quarter, from the fourth quarter of 2020 to the fourth quarter of 2021.