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Trade Statistics: S. Korea's Coffee Imports Slipped This Year

Written: 2023-08-21 14:48:37Updated: 2023-08-21 14:51:46

Trade Statistics: S. Korea's Coffee Imports Slipped This Year

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New data finds that South Korea’s imports of coffee slipped this year.

According to the Korea Customs Service’s Trade Statistics on Monday, South Korea imported 109-thousand-752 tons of coffee between January and July of this year, down three-point-nine percent compared to the same period last year.

The value of imports also slipped nine-and-a-half percent to some 647 million U.S. dollars.

The customs agency assessed that if such decline continues through the end of the year, the nation will see its annual coffee imports post a drop for the first time in five years after steadily growing since coming in at 158-thousand tons in 2018 before topping 200-thousand tons for the first time last year.

The value of such imports topped one-point-three billion dollars last year from some 640 million dollars in 2018 to more than double in five years.

The drop in global coffee production is regarded as one of the factors that has driven down the nation’s coffee imports.

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