GWANGJU < invest Korea

According to the Gwangju Main Customs Wednesday, Gwangju and the South Jeolla Province showed USD 5.1 billion exports and USD 4.19 billion imports, recording trade surplus of USD 910 million.

As of the end of May, accumulated exports and imports stood at USD 24.1 million and 20.8 million respectively, resulting in trade surplus of USD 3.3 billion.

Gwangju’s exports increased by 15 percent year-on-year at USD 1.39 billion, and imports grew at USD 440 million, an 8 percent increase. Its trade balanced showed a surplus of USD 950 million.

It was backed by an increase in semiconductor exports by 110 percent over the same period last year, and 18 percent rise in transportation equipment exports, which largely contributes to the region’s exports.

Exports of semiconductors (110 percent↑), steel products (22 percent ↑), and transportation equipment (18 percent↑) grew whereas those of leather, rubber, and shoes (24 percent ↓), machinery and precision equipment (21 percent ↓) and household appliances (4 percent ↓)

dropped. Exports of South Jeolla Province in May stood at USD 3.72 billion, a 2 percent increase year-on-year, and imports decreased by 14 percent at USD 3.76 billion, showing trade deficit of USD 40 million.

Exports of oil product (24 percent ↑) and fire-processed products (11 percent ↑) increased, however those of transportation equipment (58 percent ↓), electronics (5 percent ↓), and steel products (3 percent ↓) were reduced.

Source Text

Source: Newsis (June 19, 2013)

** This article was translated from the Korean.