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Gangwon recorded positive growth in exports for 4 consecutive months

Gangwon's exports have recorded positive growth every month this year, signalling a a green light in setting a new high.

On May 20, Gwangwon province and Gangwon Office of KITA announced that Gangwon's accumulated exports recorded USD 677.16 million until April this year, the only province that saw a positive growth for 4 consecutive months this year.

This result is all the more meaningful in that the national export growth rate recorded -2.0% for five months in a row.

In particular, Gangwon's main export products have performed well in Indonesia, India, Chile, Mexico, and Brazil, away from the US and China that its exports used to disproportionately depend. It is attributable to the growth momentum of Gangwon's strategic products including cosmetics and pharmaceuticals.

Last month, the exports by items are as follows: electrical medical equipment (USD 26.13 million); auto parts (USD 21.94 million); ferro alloy (USD 15.91 million); noodles (USD 14.98 million); and cement (USD 14.32 million)

By country, the exports recorded are: US (32.67 million); China (9.5 million); Japan (USD 16.32 million); Indonesia (USD 7.11 million); India (USD 6.37 million); and Chille (USD 5.62 million).

Gangwon province is set to focus core capabilities in reaching USD 2 billion exports for two years in a row until the end of this year through cooperation with relevant organizations.

A provincial official said, "We will provide active support to ensure market diversification by helping Gangwon's strategic products including pharmaceuticals, cosmetics, and agricultural and fishery products to enter new markets."

Source Text

Source: Newsis (May 20, 2019)

** This article was translated from Korean.