GWANGJU < invest Korea

According to Yonhap News,

Gwangju and Jeonnam registered USD 390 million in trade surplus in June.

According to trade trend of Gwangju and Jeonnam by Gwangju Customs, exports increased 19.3% month-on-month to USD 4.973 billion, and imports declined 7.1% to USD 4.579 billion, resulting in trade surplus of USD 394 million.

Exports and imports in Gwangju increased 27.5% and 7.1% to USD 1.139 billion and 485 million, respectively.

By item, exports of tires(7%), precision devices(185%), electronic goods(51.5%) were on the rise. By country, exports to Southeast Asia declined by 6.7%, but exports to major countries such as the US (33.4%), the Middle East(39%), Japan(20.9%), China(41.3%) rose.

Imports of electronic devices(-6.9%), light industry raw material(-3.6%), steel(-12.2%) dropped, but imports of machinery and electrical devices rose.

Exports in Jeonnam shot up 17% to USD 3.83 billion, and imports declined by 8.5% to USD 4.09 billion.

By items, exports of petroleum products shrank by 6.3%, but exports of blasting agents(27.9%) and ships(327.3%) surged. By country, exports to China(-13%) and the US(-28%) declined, but exports to the Middle East soared by 402.4%.

Imports declined due to the drop of imports of raw materials. Imports from Southeast Asia(39%) and China(26%) increased, but imports from the US(-22.6%) and Japan(12.1%) declined.

Source Text

Source: Yonhap News (July 21, 2011)

** This is an English translation of a Korean news article.