July 9, 2012

South Korea's H1 2012 farm produce exports up 5.6%

Due to solid demand from Japan and Southeast Asian countries, South Korean exports of farm produces rose 5.6% in the first half of this year, a government report showed Friday (July 6).

Exports of agricultural, livestock and fishery products reached US$3.72 billion during the January-June period, up 5.6% from the same period of last year, according to the Ministry of Food, Agriculture, Forestry and Fisheries.

The food export growth was eight times faster than a 0.7% expansion for all industries helped by growing demand from Japan and Southeast Asian nations.

Japan was the largest importer of South Korean farm products by importing US$1.15 billion worth of foodstuff in the first half this year, up 4.6%from a year earlier. South Korea's exports to the Association of Southeast Asian Nations (Asean) jumped 18.4% to US$558 million over the cited period.

Exports to the US and the EU expanded 6.3% and 11.9% respectively in the first half this year from a year before, shipments to China edged up 1.7% over the same period.