October 11, 2011

South Korea's food, agricultural exports surpass US$5 billion

Strong overseas demand from China and other Asian countries has resulted in South Korea's food and agricultural exports to exceed the US$5 billion forecast earlier than expected, according to a government report on Monday (Oct 10).

The country's exports of such products reached an accumulative US$5.29 billion in the January-September period, up 30.4% from a year earlier, according to the Ministry of Food, Agriculture, Forestry and Fisheries.

This year's performance was better than last year as the country's food and agricultural exports topped the US$5 billion mark in November last year, it said.

Korea's exports of agricultural goods to China accounted for 57.8% of the total for September, followed by the Association of Southeast Asian Nations (ASEAN) with 47.5%, according to the ministry.