Kimchi Trade Deficit Widens to $28 Mil. in 2013
Kimchi Trade Deficit Widens to $28 Mil. in 2013
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2014.02.07 20:02
  • 댓글 0
이 기사를 공유합니다

SEOUL, KOREA - Korea's trade balance in "Kimchi" has widened by a large margin last year. According to a report "Recent Kimchi Trade Trend" published on February 5 by the World Institute of Kimchi based on data from the Korea International Trade Association, the Kimchi export volume last year was US$89.28 million (25,631 tons), down 16.3 percent from 2012. As for imports, the figure was $117.43 million (220,000 tons), up 5.9 percent from the previous year.
 
In all, the trade balance when it comes to the fermented vegetable was a deficit of $28.15 million, up as much as 565 percent from the previous year's $4.23 million. The main reason for the explosive growth in deficit has to do with the fact that the imports of Chinese-made low-cost Kimchi are rising at an accelerated pace while Korean-made Kimchi is not selling well in Japan, the biggest consumer of Korean Kimchi, as much as before.
 
That's because, according to Kimchi industry officials, the weak yen vis-a-vis the Korean won has made Korean Kimchi more expensive for Japanese consumers while the straining relationship between the two countries has also been a factor.
 
Currently the number of countries to which Korean-made spicy concoction is exported is 60, up six countries from 2010. The ratio of Kimchi exported to Japan has declined to 73.8 percent last year from 84.2 percent in 2010. Meanwhile, the Kimchi exports to the Netherlands and the United States have increased 37.1 and 27.7 percent, respectively, last year, raising expectations that export destinations would be more diversified.

댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • ABOUT
  • CONTACT US
  • SIGN UP MEMBERSHIP
  • RSS
  • 2-D 678, National Assembly-daero, 36-gil, Yeongdeungpo-gu, Seoul, Korea (Postal code: 07257)
  • URL: www.koreaittimes.com | Editorial Div: 82-2-578- 0434 / 82-10-2442-9446 | North America Dept: 070-7008-0005 | Email: info@koreaittimes.com
  • Publisher and Editor in Chief: Monica Younsoo Chung | Chief Editorial Writer: Hyoung Joong Kim | Editor: Yeon Jin Jung
  • Juvenile Protection Manager: Choul Woong Yeon
  • Masthead: Korea IT Times. Copyright(C) Korea IT Times, All rights reserved.
ND소프트