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India-Korea Trade trade touches US $ 3.22 billion

New Delhi, October 4, 2004

India’s trade with Korea in 2003-04 has more than doubled as compared to 1997-98. During 2001-02 to 2003-04, the bilateral trade has registered an average growth of around 34% per annum. Indo-Korean trade at US $ 3.22 billion accounted for 2.28% of India’s global trade during 2003-04 as against 1.92% in 1997-98. India’s exports to Korea at US $ 762.16 million registered an increase of 18.19% during 2003-04 over the previous year.

Major items of India’s exports include cotton yarn, fabrics, made-ups, etc.; primary and semi-finished iron and steel; oil meals; other ores and minerals; petroleum products; drugs, pharmaceuticals and fine-chemicals etc. Major items of India’s imports include electronic goods; machinery except electrical and electronics; transport equipment; iron & steel; artificial resins, plastic materials; organic chemicals etc.

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