Busan’s Exports Rise for Six Consecutive Months

[Financial News] Busan’s exports increased for six consecutive months. The trade balance recorded surpluses for six consecutive months before turning to a deficit of $79 million last month.
According to Busan Headquarters Customs on the 15th, Busan’s exports totaled $1.184 billion last month, up 7.2% from the same period last year. Major export items included electrical and electronic products, passenger cars, machinery, and precision instruments. Exports of ships, auto parts, and chemical products, however, declined.
Southeast Asian countries accounted for the largest share of exports at 18.0%, followed by the United States at 16.1%, China at 14.4%, the European Union at 10.1%, Latin America at 9.2%, and Japan at 8.0%. Export volume rose 1.0% year on year to 270,000 tons.
Imports totaled $1.263 billion, up 7.5% from the same period last year. Import volume increased 9.0% year on year to 660,000 tons. By category, consumer goods declined 3.3%, while raw materials and capital goods rose 15.7% and 8.5%, respectively.

[email protected] Baek Chang-hoon Reporter