Agricultural and Fishery Food Exports Reach $519,000 This Year, 'All-Time High'... Up 16.4% YoY

[Asia Economy Sejong=Reporter Son Seonhee] This year, the export value of agricultural and marine food products has approached $520,000,000, marking a record high.

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 14th, as of May, the export value of agricultural and marine food products reached $5,185,900,000 (cumulative, provisional), an increase of 16.4% compared to the same period last year. This is the highest figure recorded as of the end of May. Despite external uncertainties such as concerns over global stagflation (a phenomenon where economic recession and inflation occur simultaneously) and supply chain instability, fresh, processed, and marine products all showed an upward trend. In particular, increased interest in health functional foods and Korean food culture led the export growth of rice processed products ($75,900,000), gochujang ($22,900,000), yuzu ($24,200,000), and gim.

Looking at the regions, the ASEAN region showed strong exports of chicken, fruits, and gim as the COVID-19 situation stabilized. Processed foods such as beverages and ramen also showed an increasing trend. Exports to the ASEAN region amounted to $1,063,800,000, accounting for about 28.2% of total exports.

In Japan, exports of fresh items such as kimchi and paprika recovered, and processed and marine products such as vinegar, gochujang, oysters, and abalone showed an upward trend. In China, due to the resurgence of COVID-19, lockdowns in some areas, customs delays, and movement restrictions, fresh and processed products decreased, but marine product exports increased, recording $885,600,000 in exports, showing a 23.7% increase compared to the same period last year. The United States also showed an overall increase in products such as kimchi, ginseng, ramen, and gim as container availability and port congestion improved due to the recent rise in the won-dollar exchange rate and China's lockdown measures.

aT stated that it will promptly respond to global crises such as Russia's invasion of Ukraine and China's city lockdowns and will implement measures to resolve related export difficulties. Additionally, to enhance the competitiveness of fresh agricultural products, a 'Integrated Export Coordination' will be established to improve management and expand export support roles. Furthermore, promising export items among 'rice-based products' will be identified and nurtured, with strengthened support at each stage from production to overseas certification, promotion, and marketing.

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