Agricultural exports forecast to grow 6.3 pct

by 5m Editor
26 February 2007, at 9:09am

SEOUL - South Korea aims to export US$2.45 billion worth of agricultural and forestry goods this year, up 6.3 percent from last year, the Ministry of Agriculture and Forestry said.

The ministry said pork exports are expected to post the largest on-year increase of 25.5 percent, followed by those of processed foods with 6.9 percent growth. Shipments of forestry goods, poultry and vegetables are all likely to grow 4-5 percent this year.

South Korea has traditionally been a net importer of agricultural products. In 2005 it exported $2.22 billion worth of agricultural, livestock and forestry products, while importing $11.88 billion worth of farm and wood-based goods.

By country, exports to Japan could reach $665 million by the year's end, a gain of 2.1 percent, with the United States, China and Russia toping the list of foreign markets.

Source: Yonhap News

5m Editor