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Fruit exports to South Korea rose sharply
United States
Monday 16 April 2018
FJ
Operation promoting American cherries in a Korean store (photo Northwest Cherry Growers, Seoul, Korea).
Since the implementation of the bilateral Free Trade Agreement (FTA) between the two countries, exports of US agricultural products to South Korea have increased significantly. South Korea is now the 5th largest market for US agricultural exports.
According to the report of the Economic Institute of South Korea, the country imported $631 million worth of US fruit last year. That's up by 13.5% from 2016. South Korea's fruit and vegetable exports to the US were $87 million last year. Korea's trade deficit reached $544 million, double the figure posted before the agreement was implemented.
US exports of agricultural products to Korea totaled $6.2 billion in 2016. (Source: ustr.gov/countries-regions). At the top of these exports is beef and beef products ($1.1 billion), corn ($865 million).
source : world.kbs.co.kr, bilaterals.org, ustr.gov/countries-regions
