Yes it is corrosion from moisture. You can use contact cleaner, but be careful with the plastic bits as it is very strong and can eat some plastics. you can use isopropyl alcohol, white spirits or metho and a toothbrush to clean the worst of it, then spray it with crc 2-26 or wd-40 then blow the excess off with an air compressor, this should leave a light film over it which will protect it.