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Chungbuk-do Records a Trade Surplus for Over Nine Years, Thanks to Semiconductor

According to Yonhap News,

(CHEONGJU=Yonhap News) Last month, local businesses in Chungcheongbuk-do reportedly recorded a trade surplus of USD 1,450 million. The province’s trade balance has been in the black for nine years and nine months since January 2009.

The surplus from the province accounts for 15.2 percent of the nation’s total trade surplus (USD 9.5 billion).

According to the Cheongju Customs, as of October 15, local businesses in Chungbuk-do recorded a total export of USD 1,937 million, whereas their total export was USD 486 million.

The export increased by 3.5 percent year over year (by USD 66 million).

Of the total export, 48.2 percent came from the semiconductor industry (USD 934 million), 13.8 percent from the electric and electronics sector (USD 268 million), 13 percent from the chemicals sector (USD 251 million), 6.8 percent from the precise machinery sector (USD 131 million), and 4 percent from the general machinery sector (USD 77 million).

Chungbuk-do’s key trading partners include Hong Kong, China, the European Union, Taiwan, the United States and Japan.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (October 15, 2018)