South Gyeongsang Province of Korea has seen its export of January fall for seven consecutive months against the same time period last year.
According to South Gyeongsang Province division of Korea International Trade Association, the province’s exports in January were a total of $4.3bn, showing 14.1% year-on-year decrease for seven succeeding months. The trade balance of the province recorded $1.61bn of surplus in the same month.
By product, the decreases are shown in vessel (-25.0%), marine engine and materials (-18.7%), heavy equipment for construction (-41.0%) and cordless phone (-99.9%), etc.
Particularly, vessel was the leading force of the decreasing trend of overall exports of South Gyeongsang Province due to a fall in exports to Europe, Central and South America and Singapore.
Meanwhile, Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering, SPP Shipbuilding and Sungdong Shipbuilding & Marine are located in South Gyeongsang Province.