Knitting Machines in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $42.7M in Knitting Machines, making it the 7th largest exporter of Knitting Machines in the world. At the same year, Knitting Machines was the 519th most exported product in South Korea. The main destination of Knitting Machines exports from South Korea are: United States ($7.4M), Indonesia ($4.45M), India ($4.29M), Vietnam ($3.8M), and Bangladesh ($3.42M).

The fastest growing export markets for Knitting Machines of South Korea between 2021 and 2022 were Bangladesh ($3.05M), Peru ($1.61M), and Indonesia ($1.2M).

Imports In 2022, South Korea imported $25.6M in Knitting Machines, becoming the 21st largest importer of Knitting Machines in the world. At the same year, Knitting Machines was the 794th most imported product in South Korea. South Korea imports Knitting Machines primarily from: China ($8.77M), Japan ($7.94M), Germany ($4.06M), United States ($1.88M), and Chinese Taipei ($993k).

The fastest growing import markets in Knitting Machines for South Korea between 2021 and 2022 were Sweden ($141k), Chinese Taipei ($131k), and Croatia ($120k).

COMPANIES In 2023, leading companies such as LG ELECTRONICS U.S.A. INC. (178) and AT HOME PROCUREMENT INC (52) were at the forefront of shipping Knitting Machines from South Korea to the United States.

Latest Trends

February 2024

About

Overview In February 2024 South Korea's Knitting Machines exports accounted up to $1.29M and imports accounted up to $782k, resulting in a positive trade balance of $505k. Between February 2023 and February 2024 the exports of South Korea's Knitting Machines have decreased by $-911k (-41.4%) from $2.2M to $1.29M, while imports decreased by $-525k (-40.2%) from $1.31M to $782k.

Destinations In February 2024, Knitting Machines were exported mostly to United States ($501k), Turkey ($252k), Vietnam ($201k), Iran ($80k), and Pakistan ($59k), and were imported mostly from Japan ($393k), China ($301k), Italy ($59k), Vietnam ($21k), and Malaysia ($7k).

Growth In February 2024, the decrease in Knitting Machines's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-1.05M or -95.5%), United Arab Emirates ($-151k or -39.4%), and Chinese Taipei ($-54k or -100%). In February 2024, the decrease in Knitting Machines's year-by-year imports was explained primarily by a decrease in imports from Germany ($-245k or -25.3%), China ($-212k or -31.2%), and Indonesia ($-2k or -100%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$-911k(-41.4%)

IMPORT GROWTH (February 2023 - February 2024)$-525k(-40.2%)

MAIN DESTINATION (February 2024)United States$501k

This section shows Knitting Machines's exports and imports data at subnational level for South Korea. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Knitting Machines over time.

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