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Date: 01/07/2024

Export of manufactured goods to South Korea up

India’s exports of manufactured goods to South Korea have grown at a faster rate than imports from the financial year 2010-11 (FY11) to FY24 since the two countries signed a trade agreement more than a decade ago. Export of manufactured goods to South Korea grew by 6.4 per cent, compared to a 4.3 per cent increase in overall exports to the country since FY11, according to analysis of trade data by the Centre for Monitoring Indian Economy (CMIE). The increase was led by engineering goods. The export category grew from $947.3 million in FY11 to $2.7 billion in FY24, a compound annual growth rate (CAGR) of 8.4 per cent, the fastest growth after electronics (14.8 per cent) and readymade garments (11 per cent), as per a report.

Source: Exim News Service: New Delhi, June 30