U.S. Agro-Exports Surge to Record Highs in Q1

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K-food-exports

SEOUL, April 3 (Yonhap) -- In the first quarter, South Korea saw its exports of agricultural and food items increase by 7.9% compared to the previous year, hitting an all-time high due to the rising influence of Hallyu, as reported by the Ministry of Agriculture on Thursday.

The value of outbound shipments for agriculture and food products reached US$3.18 billion during the January-March period, marking an increase from the $2.95 billion reported in the same quarter the previous year, as stated by the Ministry of Agriculture, Food and Rural Affairs.

The ministry also noted that this was the most substantial first-quarter figure ever recorded.

Individually, exports of instant noodles jumped 27.3% to reach $343.9 million. Snack product sales grew by 5.5%, totaling $174.1 million, whereas beverage exports climbed 4.5% to hit $156.8 million.

The sales of South Korean cigarettes increased by 14.5 percent year-over-year to reach $261 million, whereas sauce exports surged by 9.1 percent to hit $101 million, according to the provided data.

Shipments of farming equipment, agrochemicals, and other associated products increased by 2.3% year-over-year to reach $704.1 million over the mentioned timeframe.

Exports of Korean food products to the United States increased by 21.7 percent, reaching $487 million. Meanwhile, shipments to the European Union and Britain surged by 34.1 percent, totaling $222 million.

Shipments to GCC countries surged by 37.9 percent to reach $81 million.

The government stated in an official statement that they would exert every effort to assist exporters in boosting their product competitiveness, exploring new market opportunities, and overcoming business hurdles with the aim of further promoting the export of Korean food items and other agricultural goods.

graceoh@yna.co.kr

(END)

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