South Korea's Instant Noodle Exports Top USD300 Million on Solid Sales to China
Wang Shifeng
/SOURCE : Yicai
South Korea's Instant Noodle Exports Top USD300 Million on Solid Sales to China

(Yicai Global) Dec. 21 -- South Korea's instant noodle exports hit a record high this year, breaking the USD300 million barrier for the first time, thanks to increased sales of the popular convenience food in China.
 

Exports jumped 32 percent to USD346 million through November, local media outlet Aju Business Daily reported, citing data from South Korea's Ministry of Agriculture, Food and Rural Affairs. That compares with USD290 million for all of 2016.

Mainland China was the biggest buyer of the country's noodles, accounting for 25.9 percent of exports. That was despite a Chinese consumer boycott of South Korean companies and products after the country deployed a US missile defense system. South Korea's economy took a hit because of the spat.
 

The next four largest importers of the instant noodles were the US (12.3 percent), Japan (6.6 percent), Taiwan (5.6 percent) and Australia (4.4 percent).
 

South Korean exports to China grew 163 percent from 2012 through 2016, and it also sold more products to Malaysia and Indonesia. In contrast, a weakening yen has led to declining growth in exports to Japan.

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Keywords: Instant Noodles , Korean , Staple Foods , Trade , Imports , EXPORTS