April 25, 2024
Retail & Consumer
Korea’s cigarette exports top US$1b in 2016
[THE INVESTOR] South Korea’s cigarette exports rose sharply to surpass the US$1 billion mark for the first time last year on growing demand from the Middle East and Japan, the latest customs data showed on Feb. 8.
The total value of tobacco exports reached a record $1.01 billion in 2016, up 11 percent from the previous year‘s $914 million, according to the data compiled by the Korea Customs Service. The figure has been on a sharp rise at an average on-year growth of 20.2 percent during the 2014-2016 period.
The United Arab Emirates is the biggest importer of South Korean cigarettes, with $375 million worth of products shipped to the Middle East country last year, up 22.8 percent from a year earlier.
Exports to Japan also gained 6.7 percent on-year to $143 million last year, while the United States imported $104 million worth of South Korean cigarettes, up 13 percent from a year ago.
Meanwhile, according to the data, South Korea imported a record $414 million worth of foreign cigarettes and tobacco leaves in 2016, up 20.8 percent on-year.
(theinvestor@heraldcorp.com)
The total value of tobacco exports reached a record $1.01 billion in 2016, up 11 percent from the previous year‘s $914 million, according to the data compiled by the Korea Customs Service. The figure has been on a sharp rise at an average on-year growth of 20.2 percent during the 2014-2016 period.
The United Arab Emirates is the biggest importer of South Korean cigarettes, with $375 million worth of products shipped to the Middle East country last year, up 22.8 percent from a year earlier.
Exports to Japan also gained 6.7 percent on-year to $143 million last year, while the United States imported $104 million worth of South Korean cigarettes, up 13 percent from a year ago.
Meanwhile, according to the data, South Korea imported a record $414 million worth of foreign cigarettes and tobacco leaves in 2016, up 20.8 percent on-year.
(theinvestor@heraldcorp.com)
