South Korean exports of agricultural and fishery products jumped 30.8 percent on-year to a record $7.69 billion in 2011 thanks to greater demand, the government said Friday.
Of the total, $4.37 billion were processed farm products, with fresh produce exports reaching just over $1.01 billion. Overseas shipments of fishery goods totaled just under $2.31 billion, according to the Ministry for Food, Agriculture, Forestry and Fisheries.
The strong exports were propelled by the popularity of cigarettes, instant noodles, and non-alcoholic beverages as well as farm and fisheries products such as ginseng, dried laver and tuna, it said.
“Strong foreign demand from Japan and China helped exports, while aggressive marketing of products like ginseng herbal roots and makgeolli rice wine contributed to last year‘s strong numbers,” the ministry said.
Exports to Japan rose 22.5 percent on-year to an all-time high of $2.30 billion, or 31.7 percent of all outbound shipments, on strong demand for “safe foods” following the nuclear disaster in March.
China imported around $1.18 billion worth of goods, making it the second-largest market with the Association of Southeast Asian Nations being the No. 3 consumer of South Korean farm and fisheries products.
For 2012, the government aims to increase exports to $10 billion by expanding into Chinese and ASEAN markets that have shown huge growth potential, the ministry said.
South Korean farm exports hovered at $3.4 billion from 2004 through 2006, but have risen steadily since then. (Yonhap News)
