Agricultural and Food Exports to New Northern Countries Reach Record High from January to May... Surge by 44%

[Sejong=Asia Economy Reporter Moon Chaeseok] The export value of agricultural and food products to new northern markets such as Russia and Mongolia has turned to an upward trend after three years, recording an all-time high.

The Ministry of Agriculture, Food and Rural Affairs announced on the 17th that the cumulative export value of agricultural and food products to new northern markets from January to May this year was $129.3 million, an increase of 44.3% compared to the same period last year. This is the highest performance ever and marks a return to growth after three years since 2018.

By product type, fresh agricultural products increased by 34.3% to $9.9 million, and processed foods increased by 45.2% to $119.4 million.

Among fresh agricultural products, fruits (69.5%), ginseng (129.7%), and mushrooms (48.1%) showed strong performance, while among processed foods, beverages (92.7%), noodles (59.7%), and snacks (50.5%) performed well.

By country, the export growth rates were highest in Russia (53.2%), Mongolia (47.7%), Kyrgyzstan (39.8%), and Uzbekistan (28.5%). Notably, Russia and Mongolia accounted for 89.2% of exports among the 13 new northern countries.

An official from the Ministry of Agriculture, Food and Rural Affairs said, "The increase in exports to new northern countries confirms the importance of diversifying export markets," adding, "We will strengthen communication with the field and enhance policy support such as discovering new projects to help the new northern region grow into a key export market."

This content was produced with the assistance of AI translation services.