April 27, 2024
Economy
Korea’s food exports hit record high in Q1
[THE INVESTOR] Korea’s exports of food and agricultural products reached a record high in the first three months of the year, government data showed on April 26.
Outbound shipments of foodstuffs and farm products rose 11.3 percent on-year to US$1.64 billion in the January-March period according to the data compiled by the Ministry of Agriculture, Food and Rural Affairs.
It marked the largest exports tallied in the first quarter since the government started compiling such data in 1970. The ministry said a steady rise in exports to big markets fueled the rally.
Japan, the biggest buyer of South Korean food, imported $309.4 million in the three-month period, up 17.2 percent from a year earlier, while $172.8 million worth of Korean agricultural goods were shipped to the US, up 4.3 percent from a year ago.
Exports to China gained 7.4 percent on-year to $242.9 million over the January-March period.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Outbound shipments of foodstuffs and farm products rose 11.3 percent on-year to US$1.64 billion in the January-March period according to the data compiled by the Ministry of Agriculture, Food and Rural Affairs.
It marked the largest exports tallied in the first quarter since the government started compiling such data in 1970. The ministry said a steady rise in exports to big markets fueled the rally.
Japan, the biggest buyer of South Korean food, imported $309.4 million in the three-month period, up 17.2 percent from a year earlier, while $172.8 million worth of Korean agricultural goods were shipped to the US, up 4.3 percent from a year ago.
Exports to China gained 7.4 percent on-year to $242.9 million over the January-March period.
By Alex Lee and newswires (alexlee@heraldcorp.com)
