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Vietnam is the Largest Export Destination for Gwangju and Jeonnam Province

According to the analysis of export trends in Gwangju and Jeonnam Province in July, the export destination with the highest increase rate was Vietnam.

The export of products that Gwangju city is promoting increased by 32.9 percent while the export amount of agricultural products from Jeonnam Province decreased by 15.4 percent.

According to the Export Trend of main products of Gwangju and Jeonnam announced by the Gwangju Main Customs announced on August 24, the amount of export of 10 product items promoted by Gwangju has increased by 32.9 percent to USD 34 million year-on-year.

The products that Gwangju is promoting are machining center, mold, optical fiber cable, contact lenses, dental products, connectors for optical fibers, sterile surgical catgut, industrial robots and solar cells.

In July, the export amount of agricultural products from Jeonnam area such as laver, pear and abalone, decreased by 15.4 percent to USD 25 million year-on-year.

The data shows that Vietnam is now one of the most important export destination for Gwangju and Jeonnam Province.

The export to Vietnam from Gwangju accounted for 31 percent, which is the highest number. It was followed by exports to China (10.8 percent) and India (6.5 percent), but the gap was wide. The increase rate of exports to Vietnam year-on-year was also the highest with 701.2 percent. It was followed by India (232.6 percent), Indonesia (91.7 percent), China (88.2 percent) and the U.S. (48.2 percent).

Source Text

Source: Newsis (August 24, 2018)

** This article was translated from Korean.