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2023
Exports $42.7MWorld Rnk 53 / 217
Flag Rnk 473 / 1188
2023
Destination $739k United States
2022 - 2023
FASTEST GROWING MARKET $739kChinese Taipei
2023
PRODUCT COMPLEXITY IN Knit Women's Suits-1.25Rnk 890 / 1025
2023
Imports $592MWorld Rnk 15 / 221
Flag Rnk 145 / 1208
2023
Origin $279M China
2022 - 2023
FASTEST GROWING ORIGIN $279MChina
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $42.7M in Knit Women's Suits, making it the 53rd largest exporter of Knit Women's Suits in the world. At the same year, Knit Women's Suits was the 473rd most exported product in South Korea. The main destination of Knit Women's Suits exports from South Korea are: United States ($11.8M), China ($11.1M), Hong Kong ($5.68M), Chinese Taipei ($2.89M), and Japan ($2.74M).

The fastest growing export markets for Knit Women's Suits of South Korea between 2022 and 2023 were Chinese Taipei ($739k), France ($555k), and Singapore ($532k).

Imports In 2023, South Korea imported $592M in Knit Women's Suits, becoming the 15th largest importer of Knit Women's Suits in the world. At the same year, Knit Women's Suits was the 145th most imported product in South Korea. South Korea imports Knit Women's Suits primarily from: China ($441M), Italy ($25.2M), Indonesia ($21.1M), Hong Kong ($19.7M), and France ($15.2M).

The fastest growing import markets in Knit Women's Suits for South Korea between 2022 and 2023 were China ($279M), Hong Kong ($19.5M), and United Kingdom ($12.3M).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Knit Women's Suits exports accounted up to $8.24M and imports accounted up to $41.9M, resulting in a negative trade balance of $33.6M. Between December 2023 and December 2024 the exports of South Korea's   Knit Women's Suits have increased by $1.67M (25.4%) from $6.57M to $8.24M, while imports increased by $7.15M (20.6%) from $34.7M to $41.9M.

Destinations In December 2024, Knit Women's Suits were exported mostly to United States ($3.44M), China ($1.36M), Japan ($1.32M), Chinese Taipei ($543k), and Vietnam ($387k), and were imported mostly from China ($18.2M), Vietnam ($8.83M), Indonesia ($2.75M), Bangladesh ($2.5M), and Italy ($2.13M).

Growth In December 2024, the increase in Knit Women's Suits's year-by-year exports was explained primarily by an increase in exports to China ($1.02M or 127%), United States ($127k or 11.3%), and Hong Kong ($114k or 43.5%). In December 2024, the increase in Knit Women's Suits's year-by-year imports was explained primarily by an increase in imports from Cambodia ($456k or 28.6%), Portugal ($385k or 210%), and Indonesia ($253k or 15.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$1.67M(25.4%)
IMPORT GROWTH (December 2023 - December 2024)$7.15M(20.6%)
MAIN DESTINATION (December 2024)United States$3.44M

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

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Historical Data

Trade Balance

Color
EXPORTS (2023)$42.7M
IMPORTS (2023)$592M
NET TRADE (2023)-$549M

In 2023, South Korea exported $42.7M in Knit Women's Suits. The main destinations of South Korea exports on Knit Women's Suits were United States ($11.8M), China ($11.1M), Hong Kong ($5.68M), Chinese Taipei ($2.89M), and Japan ($2.74M).

In 2023, South Korea imported $592M in Knit Women's Suits, mainly from China ($441M), Italy ($25.2M), Indonesia ($21.1M), Hong Kong ($19.7M), and France ($15.2M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Knit Women's Suits EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
Chinese Taipei$739k (34.3%)
France$555k (531%)
Singapore$532k (157%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Women's Suits BY South Korea WERE (2022 - 2023):
China-$7.19M (-39.2%)
Japan-$2.75M (-50.1%)
Vietnam-$1.49M (-100%)
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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 Women's Suits were:
China $12.1B
Bangladesh $3.09B
Vietnam $2.72B
In 2023, South Korea's main importing competitors in Knit Women's Suits were:
United States $6.79B
Germany $3.41B
United Kingdom $1.69B

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Trade Value of Knit Women's Suits by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $9.14M
TOP IMPORT POTENTIALChina+ $79.9M

Knit Women's Suits’s highest export potential is United States. With an export gap of $9.14M.   Knit Women's Suits’s highest import potential is China with an import gap of $79.9M.

See methodology.

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