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2022
Exports $207MWorld Rnk 39 / 226
Flag Rnk 272 / 1204
2022
Destination $4.3M Japan
2021 - 2022
FASTEST GROWING MARKET $4.3MHong Kong
2022
PRODUCT COMPLEXITY IN Knit T-shirts-1.34Rnk 921 / 1025
2022
Imports $1.02BWorld Rnk 12 / 223
Flag Rnk 102 / 1213
2022
Origin $50.3M China
2021 - 2022
FASTEST GROWING ORIGIN $50.3MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $207M in Knit T-shirts, making it the 39th largest exporter of Knit T-shirts in the world. At the same year, Knit T-shirts was the 272nd most exported product in South Korea. The main destination of Knit T-shirts exports from South Korea are: Japan ($60.1M), China ($52.7M), United States ($25.3M), Hong Kong ($23.2M), and Chinese Taipei ($14.4M).

The fastest growing export markets for Knit T-shirts of South Korea between 2021 and 2022 were Hong Kong ($4.3M), United States ($3.87M), and Canada ($3.6M).

Imports In 2022, South Korea imported $1.02B in Knit T-shirts, becoming the 12th largest importer of Knit T-shirts in the world. At the same year, Knit T-shirts was the 102nd most imported product in South Korea. South Korea imports Knit T-shirts primarily from: China ($309M), Vietnam ($269M), Bangladesh ($109M), Italy ($105M), and Indonesia ($47.3M).

The fastest growing import markets in Knit T-shirts for South Korea between 2021 and 2022 were China ($50.3M), Bangladesh ($15.6M), and Italy ($12.8M).

COMPANIES In 2023, leading companies such as Gildan Activewear (12) were at the forefront of shipping Knit T-shirts from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Knit T-shirts exports accounted up to $21.2M and imports accounted up to $55.8M, resulting in a negative trade balance of $34.6M. Between October 2023 and October 2024 the exports of South Korea's   Knit T-shirts have increased by $1.06M (5.24%) from $20.2M to $21.2M, while imports increased by $7.32M (15.1%) from $48.5M to $55.8M.

Destinations In October 2024, Knit T-shirts were exported mostly to China ($7.94M), Japan ($5.56M), Chinese Taipei ($1.91M), United States ($1.91M), and Hong Kong ($625k), and were imported mostly from China ($22.7M), Vietnam ($13.4M), Bangladesh ($3.41M), Indonesia ($3.13M), and Italy ($1.7M).

Growth In October 2024, the increase in Knit T-shirts's year-by-year exports was explained primarily by an increase in exports to Canada ($913k or 379%), Japan ($800k or 14.9%), and Thailand ($172k or 366%). In October 2024, the increase in Knit T-shirts's year-by-year imports was explained primarily by an increase in imports from Vietnam ($12.7M or 50.2%), Bangladesh ($3.77M or 35.2%), and Indonesia ($1.89M or 40.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$1.06M(5.24%)
IMPORT GROWTH (October 2023 - October 2024)$7.32M(15.1%)
MAIN DESTINATION (October 2024)China$7.94M

This section shows Knit T-shirts'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 T-shirts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$207M
IMPORTS (2022)$1.02B
NET TRADE (2022)-$812M

In 2022, South Korea exported $207M in Knit T-shirts. The main destinations of South Korea exports on Knit T-shirts were Japan ($60.1M), China ($52.7M), United States ($25.3M), Hong Kong ($23.2M), and Chinese Taipei ($14.4M).

In 2022, South Korea imported $1.02B in Knit T-shirts, mainly from China ($309M), Vietnam ($269M), Bangladesh ($109M), Italy ($105M), and Indonesia ($47.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit T-shirts EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Hong Kong$4.3M (22.8%)
United States$3.87M (18.1%)
Canada$3.6M (110%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit T-shirts BY South Korea WERE (2021 - 2022):
China-$14.6M (-21.7%)
Japan-$4.93M (-7.59%)
Nigeria-$719k (-98.4%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, South Korea's main exporting competitors in Knit T-shirts were:
China $9.12B
Bangladesh $9.06B
Turkey $2.8B
In 2022, South Korea's main importing competitors in Knit T-shirts were:
United States $11.5B
Germany $5.63B
France $2.7B

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Trade Value of Knit T-shirts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $16.4M
TOP IMPORT POTENTIALBangladesh+ $81.6M

Knit T-shirts’s highest export potential is United States. With an export gap of $16.4M.   Knit T-shirts’s highest import potential is Bangladesh with an import gap of $81.6M.

See methodology.

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