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2022
Exports $66.3MWorld Rnk 49 / 215
Flag Rnk 441 / 1204
2022
Destination $3.35M China
2021 - 2022
FASTEST GROWING MARKET $3.35MUnited States
2022
PRODUCT COMPLEXITY IN Knit Women's Suits-1.27Rnk 900 / 1025
2022
Imports $868MWorld Rnk 12 / 220
Flag Rnk 123 / 1213
2022
Origin $39.1M China
2021 - 2022
FASTEST GROWING ORIGIN $39.1MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $66.3M in Knit Women's Suits, making it the 49th largest exporter of Knit Women's Suits in the world. At the same year, Knit Women's Suits was the 441st most exported product in South Korea. The main destination of Knit Women's Suits exports from South Korea are: China ($16.3M), Japan ($16.1M), United States ($14.8M), Hong Kong ($5.35M), and Chinese Taipei ($3.14M).

The fastest growing export markets for Knit Women's Suits of South Korea between 2021 and 2022 were United States ($3.35M), Vietnam ($1.74M), and Chinese Taipei ($1.66M).

Imports In 2022, South Korea imported $868M in Knit Women's Suits, becoming the 12th largest importer of Knit Women's Suits in the world. At the same year, Knit Women's Suits was the 123rd most imported product in South Korea. South Korea imports Knit Women's Suits primarily from: China ($558M), Vietnam ($134M), Indonesia ($27.3M), Italy ($25.6M), and Bangladesh ($22.7M).

The fastest growing import markets in Knit Women's Suits for South Korea between 2021 and 2022 were China ($39.1M), Vietnam ($21.5M), and Burma ($7.31M).

COMPANIES In 2023, leading companies such as Michael Kors (1) were at the forefront of shipping Knit Women's Suits from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Knit Women's Suits exports accounted up to $5.84M and imports accounted up to $56.3M, resulting in a negative trade balance of $50.5M. Between October 2023 and October 2024 the exports of South Korea's   Knit Women's Suits have decreased by $-668k (-10.3%) from $6.51M to $5.84M, while imports increased by $11.7M (26.1%) from $44.7M to $56.3M.

Destinations In October 2024, Knit Women's Suits were exported mostly to Japan ($2.07M), China ($1.47M), United States ($1.14M), Chinese Taipei ($403k), and Hong Kong ($146k), and were imported mostly from China ($18.4M), Vietnam ($17.1M), Indonesia ($5.32M), Burma ($4.96M), and Bangladesh ($2.72M).

Growth In October 2024, the decrease in Knit Women's Suits's year-by-year exports was explained primarily by a decrease in exports to United States ($-1.03M or -47.7%), Hong Kong ($-490k or -65.2%), and China ($-162k or -16.7%). In October 2024, the increase in Knit Women's Suits's year-by-year imports was explained primarily by an increase in imports from Bangladesh ($968k or 47.5%), Italy ($679k or 43.5%), and Burma ($590k or 32.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-668k(-10.3%)
IMPORT GROWTH (October 2023 - October 2024)$11.7M(26.1%)
MAIN DESTINATION (October 2024)Japan$2.07M

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 (2022)$66.3M
IMPORTS (2022)$868M
NET TRADE (2022)-$802M

In 2022, South Korea exported $66.3M in Knit Women's Suits. The main destinations of South Korea exports on Knit Women's Suits were China ($16.3M), Japan ($16.1M), United States ($14.8M), Hong Kong ($5.35M), and Chinese Taipei ($3.14M).

In 2022, South Korea imported $868M in Knit Women's Suits, mainly from China ($558M), Vietnam ($134M), Indonesia ($27.3M), Italy ($25.6M), and Bangladesh ($22.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit Women's Suits EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$3.35M (29.2%)
Vietnam$1.74M (254%)
Chinese Taipei$1.66M (112%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Women's Suits BY South Korea WERE (2021 - 2022):
Japan-$3.31M (-17.1%)
Finland-$298k (-77.5%)
Macau-$215k (-80.1%)
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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 Women's Suits were:
China $13.9B
Bangladesh $4.08B
Vietnam $3.48B
In 2022, South Korea's main importing competitors in Knit Women's Suits were:
United States $8.38B
Germany $5.04B
United Kingdom $2.14B

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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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