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2023
Exports $174MWorld Rnk 38 / 219
Flag Rnk 272 / 1188
2023
Destination $50.2M China
2022 - 2023
FASTEST GROWING MARKET $50.2MChina
2023
PRODUCT COMPLEXITY IN Knit Sweaters-1.3Rnk 900 / 1025
2023
Imports $1.65BWorld Rnk 10 / 220
Flag Rnk 51 / 1208
2023
Origin $434M China
2022 - 2023
FASTEST GROWING ORIGIN $434MChina
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $174M in Knit Sweaters, making it the 38th largest exporter of Knit Sweaters in the world. At the same year, Knit Sweaters was the 272nd most exported product in South Korea. The main destination of Knit Sweaters exports from South Korea are: China ($99.7M), United States ($26.7M), Hong Kong ($16M), Japan ($5.81M), and Canada ($5.68M).

The fastest growing export markets for Knit Sweaters of South Korea between 2022 and 2023 were China ($50.2M), Netherlands ($2.58M), and United Arab Emirates ($1.77M).

Imports In 2023, South Korea imported $1.65B in Knit Sweaters, becoming the 10th largest importer of Knit Sweaters in the world. At the same year, Knit Sweaters was the 51st most imported product in South Korea. South Korea imports Knit Sweaters primarily from: China ($1.13B), Italy ($208M), Hong Kong ($62.5M), France ($60.6M), and United Kingdom ($43.1M).

The fastest growing import markets in Knit Sweaters for South Korea between 2022 and 2023 were China ($434M), Hong Kong ($60.9M), and France ($48.2M).

COMPANIES In 2024, leading companies such as Michael Kors (1) were at the forefront of shipping Knit Sweaters from South Korea to the United States.

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Knit Sweaters exports accounted up to $13.1M and imports accounted up to $142M, resulting in a negative trade balance of $129M. Between December 2023 and December 2024 the exports of South Korea's   Knit Sweaters have increased by $1.17M (9.79%) from $12M to $13.1M, while imports increased by $18.9M (15.4%) from $123M to $142M.

Destinations In December 2024, Knit Sweaters were exported mostly to Japan ($3.09M), United States ($2.97M), China ($2.74M), Hong Kong ($1.81M), and Chinese Taipei ($675k), and were imported mostly from China ($81.4M), Vietnam ($14.7M), Italy ($14M), Bangladesh ($6.67M), and Portugal ($3.46M).

Growth In December 2024, the increase in Knit Sweaters's year-by-year exports was explained primarily by an increase in exports to China ($2.67M or 192%), Japan ($1.54M or 63.9%), and Hong Kong ($738k or 115%). In December 2024, the increase in Knit Sweaters's year-by-year imports was explained primarily by an increase in imports from China ($5.53M or 8.48%), Vietnam ($1.83M or 9.19%), and Japan ($1.45M or 116%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$1.17M(9.79%)
IMPORT GROWTH (December 2023 - December 2024)$18.9M(15.4%)
MAIN DESTINATION (December 2024)Japan$3.09M

This section shows Knit Sweaters'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 Sweaters over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$174M
IMPORTS (2023)$1.65B
NET TRADE (2023)-$1.48B

In 2023, South Korea exported $174M in Knit Sweaters. The main destinations of South Korea exports on Knit Sweaters were China ($99.7M), United States ($26.7M), Hong Kong ($16M), Japan ($5.81M), and Canada ($5.68M).

In 2023, South Korea imported $1.65B in Knit Sweaters, mainly from China ($1.13B), Italy ($208M), Hong Kong ($62.5M), France ($60.6M), and United Kingdom ($43.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Knit Sweaters EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
China$50.2M (101%)
Netherlands$2.58M (184%)
United Arab Emirates$1.77M (740%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Sweaters BY South Korea WERE (2022 - 2023):
United States-$8.02M (-23.1%)
Japan-$4.83M (-45.4%)
Canada-$4.22M (-42.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Knit Sweaters were:
China $19.7B
Bangladesh $6.68B
Vietnam $4.31B
In 2023, South Korea's main importing competitors in Knit Sweaters were:
United States $14.9B
Germany $5.42B
Japan $4.39B

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Trade Value of Knit Sweaters by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $21.2M
TOP IMPORT POTENTIALChina+ $130M

Knit Sweaters’s highest export potential is United States. With an export gap of $21.2M.   Knit Sweaters’s highest import potential is China with an import gap of $130M.

See methodology.

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