South Korea's ramyeon exports contract 1.9% in 2014: data

By Park Sae-jin Posted : April 17, 2015, 16:00 Updated : April 17, 2015, 16:03

 

South Korea's ramyeon (instant noodles) exports contracted slightly in 2014 from the previous year, after rising for three straight years, government data showed Friday.  

The country's ramyeon exports reached US$208 million last year, down 1.9 percent from 2013, according to the data compiled by the nation's customs office.

Officials at the Korea Customs Service (KCS) attributed the decrease largely to a decline in ramyeon shipments to Japan. Ramyeon shipments to Japan totaled $24 million in 2014, compared with $32 million in 2013, $42 million in 2012 and $52 million in 2011, the data said. 

Growth of ramyeon exports slowed from 18.8 percent in 2011 to 10.4 percent in 2012 and further to 3.1 percent in 2013.

China began to emerge as the largest importer of South Korean ramyeon in 2013. Last year, exports to China accounted for 16.6 percent of South Korea's total ramyeon shipments, the data said. The comparable figure stood at 12.5 percent for the United States and 11.7 percent for Japan.   
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