2023
Exports
$14.4MWorld Rnk 53 / 207
Flag Rnk 652 / 1188
2023
PRODUCT COMPLEXITY IN Knit Men's Suits
-1.34Rnk 912 / 1025
2023
Imports
$221MWorld Rnk 16 / 221
Flag Rnk 292 / 1208
2023
ECONOMIC COMPLEXITY of South Korea
1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $14.4M in Knit Men's Suits, making it the 53rd largest exporter of Knit Men's Suits in the world. At the same year, Knit Men's Suits was the 652nd most exported product in South Korea. The main destination of Knit Men's Suits exports from South Korea are: United States ($6.1M), Hong Kong ($3.53M), China ($884k), Canada ($354k), and Netherlands ($312k).

The fastest growing export markets for Knit Men's Suits of South Korea between 2022 and 2023 were United States ($2.02M), Hong Kong ($1.18M), and Macau ($231k).

Imports In 2023, South Korea imported $221M in Knit Men's Suits, becoming the 16th largest importer of Knit Men's Suits in the world. At the same year, Knit Men's Suits was the 292nd most imported product in South Korea. South Korea imports Knit Men's Suits primarily from: China ($143M), Indonesia ($12.7M), Italy ($10.3M), Pakistan ($7.59M), and Cambodia ($6.84M).

The fastest growing import markets in Knit Men's Suits for South Korea between 2022 and 2023 were China ($34.7M), United States ($4.79M), and Hong Kong ($4.72M).

COMPANIES In 2024, leading companies such as LG Electronics (9), Stelfast (7), and Samsung (4) were at the forefront of shipping Knit Men's Suits from South Korea to the United States.

Latest Trends

December 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-107k(-13.5%)
IMPORT GROWTH (December 2023 - December 2024)$1.2M(6.55%)
MAIN DESTINATION (December 2024)China$358k

This section shows Knit Men's Suits'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 Knit Men's Suits over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$14.4M
IMPORTS (2023)$221M
NET TRADE (2023)-$206M

In 2023, South Korea exported $14.4M in Knit Men's Suits. The main destinations of South Korea exports on Knit Men's Suits were United States ($6.1M), Hong Kong ($3.53M), China ($884k), Canada ($354k), and Netherlands ($312k).

In 2023, South Korea imported $221M in Knit Men's Suits, mainly from China ($143M), Indonesia ($12.7M), Italy ($10.3M), Pakistan ($7.59M), and Cambodia ($6.84M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Knit Men's Suits EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
United States$2.02M (49.6%)
Hong Kong$1.18M (50.3%)
Macau$231k (521%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Men's Suits BY South Korea WERE (2022 - 2023):
Japan-$36.9M (-99.6%)
Vietnam-$3.09M (-100%)
China-$866k (-49.5%)

Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Knit Men's Suits were:
In 2023, South Korea's main importing competitors in Knit Men's Suits were:

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Trade Value of Knit Men's Suits by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.53M
TOP IMPORT POTENTIALChina+ $33.3M

Knit Men's Suits’s highest export potential is United States. With an export gap of $4.53M.   Knit Men's Suits’s highest import potential is China with an import gap of $33.3M.

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