Busan is good

Busan's economy on smooth sail this year

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1st-quarter exports jump 21%, trade cargo rises 7%

 

Various economic indices of Busan are on a steady rise in the first quarter of this year. The city's economy is booming amid various factors that are pulling down the global economy, including high oil and raw material prices in international markets.

 

According to the city, exports in the first three moths soared 21 percent from a year ago, and its handling of container cargoes also climbed 7 percent. The number of business startups in the nation's second largest city totaled 859, up 48 from the 811 a year earlier. Jobless rate edged down 0.2 percentage point to 4 percent over the period.

 

The combined exports by firms operating in Busan amounted to $2.81 billion, aided by a sharp increase in the export of ships, steel and machinery thanks to the operation of new factories making shipbuilding parts, and equipment and price rises of raw materials, including steel.

The export portion of heavy and chemical products, including steel, machinery and transportation equipment, sharply expanded to 81.6 percent of the total, while that of light industrial products, such as textile, footwear and leather goods, dropped by 12.1 percent from the same period of 2007.

 

Busan's handling of container cargoes also went up 7 percent on a yearly comparison, thanks to the sharp rise in the New Port's business activities.

 

The source of news : Dynamic Busan