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Korean exports to Mexico surge in 50 years: report
By Korea HeraldPublished : Jan. 25, 2012 - 20:07
Korea’s exports to Mexico have skyrocketed since the establishment of bilateral diplomatic ties, thanks to a strong economic relationship, a report showed Wednesday.
According to the report by the Korea International Trade Association, Korea’s shipments to Mexico came to $9.1 billion in the first 11 months of 2011, compared with a mere $55,000 in 1967.
Korea and Mexico set up diplomatic relations in 1962, while Seoul began tracking bilateral trade five years later.
Korea’s imports from Mexico surged to $2.2 billion from $780,000 over the same period, giving Korea a trade surplus of $6.9 billion, according to the KITA report.
Trade volume between the two nations reached $11.3 billion last year, making Mexico South Korea’s 10th biggest trade partner.
The report also showed that Korean companies’ direct investment in Mexico soared to $64 million in 2010 from $100,000 in 1980.
Construction and industrial plant orders won by Korean builders were worth $3.86 billion during the 1965-2010 period, taking up 42 percent of their overall deals won in the Central and South American region, said the report.
(Yonhap News)
According to the report by the Korea International Trade Association, Korea’s shipments to Mexico came to $9.1 billion in the first 11 months of 2011, compared with a mere $55,000 in 1967.
Korea and Mexico set up diplomatic relations in 1962, while Seoul began tracking bilateral trade five years later.
Korea’s imports from Mexico surged to $2.2 billion from $780,000 over the same period, giving Korea a trade surplus of $6.9 billion, according to the KITA report.
Trade volume between the two nations reached $11.3 billion last year, making Mexico South Korea’s 10th biggest trade partner.
The report also showed that Korean companies’ direct investment in Mexico soared to $64 million in 2010 from $100,000 in 1980.
Construction and industrial plant orders won by Korean builders were worth $3.86 billion during the 1965-2010 period, taking up 42 percent of their overall deals won in the Central and South American region, said the report.
(Yonhap News)
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Articles by Korea Herald
