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SEOUL, Dec. 8 (Yonhap) -- For the first time, South Korea's agricultural and by-product exports to its "New South Policy" partners (ASEAN 10 and India) exceeded exports to Japan, making it South Korea's largest agricultural and by-product export destination.
agriculture, for animal husbandry and food ministry said Monday that exports of agricultural and sideline products in the first 11 months of this year amounted to $6.845 billion, up 6.8 percent from a year earlier.
exports of agricultural and sideline products rose against the trend, reaching an all-time high, as the new crown outbreak hit trade across the border.
exports to New South policy partners amounted to $1,395 million, an increase of 8.4 per cent year-on-year.
's exports to the New South region exceeded 20 per cent of total agricultural and by-product exports for the first time last year, reaching 20.3 per cent, and have edged up to 20.4 per cent this year.
Increased demand for home-cooked meals in the outbreak and the popularity of the distribution APP platform led to strong export growth in noodles (16.1%), sauce (15.8%), formula (43.9%), kimchi (55.2%), and grapefruit tea (160.3%).
Ministry of Agriculture, Forears and Livestock predicts that the Regional Comprehensive Economic Partnership Agreement (RCEP) will further boost South Korea's export growth to the New South policy partner region market.
(Complete)