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S. Korea's exports of tractors hit fresh record in 2022

May 31, 2023 - 10:07 By Yonhap

South Korea's exports of agriculture tractors hit a record high in 2022 by advancing 23 percent on-year, data showed Wednesday, amid growing demand for small-sized models.

The value of tractors shipped overseas came to $1.24 billion in 2022, rising from $1 billion tallied a year earlier, according to the data compiled by the Korea Customs Service.

The amount also marked a sharp rise from $657 million posted in 2020, the data showed.

The customs office said the increase was driven by rising demand for compact models, reflecting the rising interest in farming as a hobby during the COVID-19 pandemic around the globe.

Small-sized models accounted for 74.1 percent, or $926 million, of the total, followed by medium-sized tractors with 24.7 percent.

By destination, the United States accounted for 81 percent of the exports, followed by Canada with 4 percent and Australia with 3 percent, the customs office added. (Yonhap)