S. Korea’s agri-food exports up 8.7% in 8m

South Korea’s exports of agricultural and food products rose significantly in the first eight months of this year, driven by strong demand from the United States and Europe, according to a government data released on Tuesday.

The Ministry of Agriculture, Food and Rural Affairs reported that outbound shipments of locally-produced food and farm goods increased by 8.7 per cent to $6.48 billion from January to August, compared to the same period last year.

Exports of agri-food products to the United States advanced by 22.8 per cent, reaching $1.02 billion during the cited period. Shipments to Europe surged by 30.5 per cent, totalling $459 million.

Meanwhile, exports to the Association of Southeast Asian Nations (ASEAN) grew by 5.9 per cent to $1.26 billion. However, shipments to Japan declined by 7.4 per cent to $900 million over the same eight-month period.

Confectionery and beverage exports grew by double digits, reaching $494 million and $449 million, respectively. Meanwhile, exports of processed rice products jumped by 41.7 per cent to $190 million.

Attribution: South Korea’s Ministry of Agriculture, Food and Rural Affairs report

Subediting: M. S. Salama