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Fisheries Exports Surge To Record High

Sustainability Economics +3 more

SOUTH KOREA - Exports of South Korea's fisheries and marine products surged 31 per cent from a year earlier in the first nine months of the year, fueled by strong demand from Japan and China, said a state-run trade organisation.

YonhapNewsAgency reports that the country's overseas shipments of marine products in the January-September period reached US$1.67 billion, a new high for the cited period, according to the Korea Agro-Fisheries Trade Corp, also known as AT.

The growth was largely led by shipments to Japan and China, whose imports from South Korea surged 16.8 per cent and 122.5 per cent on-year, respectively.

"The country's fisheries exports will likely reach their goal of $2.15 billion this year when considering growing demand in Japan and in newly established markets in China," the AT said.

South Korea's exports of agricultural and forestry products are also heading for record highs this year as the Ministry of Food, Agriculture, Forestry and Fisheries earlier said the country's food exports in the January-September period jumped 30.4 per cent on-year to $5.29 billion.

The ministry expects the country's food exports will more than triple to $20 billion in 2017.