https://gcc.gnu.org/bugzilla/show_bug.cgi?id=114520

--- Comment #3 from Gaius Mulley <gaius at gcc dot gnu.org> ---
The fix is not elegant, but it is accurate:

$ gm2 localmodule2.mod 
localmodule2.mod:13:3: error: In inner module ‘local’: an IMPORT statement must
preceed an EXPORT statement
   13 |   IMPORT mult2 ;
      |   ^~~~~~

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