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Daegu Q1 Exports Up 15.8% YoY Led By Machinery

According to Yonhap News,

(DAEGU=Yonhap News) Daegu's exports showed a 15.8% increase YoY, led by solid growth in machinery exports.

According to the Korea International Trade Association's report on Daegu's Q1 trade announced on April 24, Daegu's exports amounted to USD 1.944 billion, and the region's imports totaled USD 1.183 billion.

Compared to the same period last year, that is a 15.8% increase in exports and a 10.6% jump for imports.

The growth was led by the machinery, chemicals, plastics and rubber industries. In particular, strong exports of machinery led to the overall increase in exports.

Export growth by country stood at 394.2% for Iraq, 27.3% for Vietnam, 23.2% for the U.S. and 10.1% for Mexico. Exports to Japan and China also rose at 5.4% and 2.9% respectively.

In the midst of turmoil in global trade marked by trade wars and the depreciating won, Daegu city will take measures to ease the impact and provide customized overseas marketing support for companies.

Ahn Sung-gon, director of Daegu's employment planning department, stated, "We will work to diversify our export destinations to the Middle East, Africa, Asia Pacific, India and more to increase the region's trade."

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Source Text

** This article was translated from Korean.

Source: Yonhap News (Apr. 24, 2018)