RoK’s agricultural exports to Southeast Asia increase
The Republic of Korea (RoK)’s agricultural exports to Southeast Asia and India, which are included in its New Southern Policy, reached 1.39 billion USD in the first 11 months of 2020, up 8.4 percent year-on-year.
Illustrative image (Source: Seoul Nowon District Office)
Seoul (VNA) – The Republic of Korea(RoK)’s agricultural exports to Southeast Asia and India, which are included inits New Southern Policy, reached 1.39 billion USD in the first 11 months of2020, up 8.4 percent year-on-year.
The RoK’s Ministry of Agriculture, Food andRural Affairs reported on December 9 that the country’s 11-month agriculturalexports approximated 7.4 trillion KRW (6.84 billion USD), rising 6.8 percentfrom the same period last year.
In particular, shipments to Thailand grew 9.8percent, Indonesia 4 percent, the Philippines 33.1 percent, Singapore 19.8percent, Malaysia 23.1 percent, and India 34.7 percent.
The ministry expected agricultural exports tothese markets will rise further thanks to the Regional Comprehensive EconomicPartnership (RCEP) agreement, which was inked last month by ASEAN countries anddialogue partners, including the RoK./.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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Illustrative image (Source: Seoul Nowon District Office) 
