South Korea recorded its all-time high in instant noodles exports last month.
Instant noodle exports have been on the rise since the beginning of the year, and they are expected to surpass $1 billion for the first time this year.
On the 21st, Yonhap News reported the trade statistics after verifying it with the Korea Customs Service.
According to the report, last month’s instant noodles exports were $93 million, an increase of 31.5% compared to last year. This sets a new record for monthly exports and surpasses the previous record of $91 million set in November last year.
The volume of instant noodles exported last month increased by 20.0% compared to last year’s, reaching 23,000 tons.
Looking at the export amount by country, the United States had the highest with $19.84 million.
This was followed by China ($15.2 million), the Netherlands ($6.04 million), Japan ($5.52 million), and so on. Additionally, Malaysia ($4.76 million), the Philippines ($4.3 million), Thailand ($3.87 million), Taiwan ($3.26 million), the UK ($2.91 million), and Australia ($2.71 million) all ranked within the top ten. Among Middle Eastern countries, the United Arab Emirates (UAE) had the highest with $1.85 million, ranking 13th overall.
The export amount of instant noodles is only considered the volume produced domestically and exported to foreign countries. Considering the volume produced directly in foreign factories and sold locally, the global export amount would be significantly larger.
With this, Yonhap News explained, “The lively instant noodles exports since the beginning of the year are expected to surpass $1 billion for the first time this year. The export amount of instant noodles has been breaking records for nine consecutive years since it reached its all-time high of $220 million in 2015. If it surpasses $1 billion this year, it will be the tenth consecutive year of record-breaking.”
They added, “The reason Korean instant noodles are being exported in large quantities is due to the popularity of Korean Wave (Hallyu), such as K-pop and K-food, which has increased interest in Korean food.”
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