Knitted clothing accesories in South Korea 2021 Exports | Imports : $902M | $5.63B, World Rnk 40 / 226 Rnk 44 / 96 | World Rnk 11 / 225 Rnk 20 / 96
2020 - 2021 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $68.5M | $370M, Japan | China
2021 ECONOMIC COMPLEXITY of South Korea: 1.82, Rnk 4 / 131
2021 PRODUCT COMPLEXITY IN Knitted clothing accesories: -0.78, Rnk 770 / 1029
Exports In 2021, South Korea exported $902M in Knitted clothing accesories, making it the 40th largest exporter of Knitted clothing accesories in the world. At the same year, Knitted clothing accesories was the 44th most exported product in South Korea. The main destination of Knitted clothing accesories exports from South Korea are: Japan ($220M), United States ($192M), China ($186M), Hong Kong ($52.7M), and Vietnam ($35.4M).
The fastest growing export markets for Knitted clothing accesories of South Korea between 2020 and 2021 were Japan ($68.5M), China ($59.5M), and United States ($48.5M).
Imports In 2021, South Korea imported $5.63B in Knitted clothing accesories, becoming the 11th largest importer of Knitted clothing accesories in the world. At the same year, Knitted clothing accesories was the 20th most imported product in South Korea. South Korea imports Knitted clothing accesories primarily from: China ($2.94B), Vietnam ($1.1B), Italy ($314M), Bangladesh ($252M), and Indonesia ($191M).
The fastest growing import markets in Knitted clothing accesories for South Korea between 2020 and 2021 were China ($370M), United Kingdom ($120M), and Italy ($89.3M).
Tariffs In 2018, the average tariff for South Korea in Knitted clothing accesories was 7.91%. The countries with the highest import tariffs for Knitted clothing accesories were China (Most Favoured Nation duty rate treatment, 13%), Botswana (Most Favoured Nation duty rate treatment, 12.6%), Cote d'Ivoire (Most Favoured Nation duty rate treatment, 12.6%), Cameroon (Most Favoured Nation duty rate treatment, 12.6%), and Republic of the Congo (Most Favoured Nation duty rate treatment, 12.6%).
April 2023
Overview In April 2023 South Korea's Knitted clothing accesories exports accounted up to $82.4M and imports accounted up to $358M, resulting in a negative trade balance of $276M. Between April 2022 and April 2023 the exports of South Korea's Knitted clothing accesories have increased by $6.2M (8.14%) from $76.2M to $82.4M, while imports decreased by $-34.3M (-8.73%) from $392M to $358M.
Destinations In April 2023, Knitted clothing accesories were exported mostly to United States ($18.1M), Japan ($16.1M), China ($14.4M), Vietnam ($8.76M), and Hong Kong ($7.59M), and were imported mostly from China ($125M), Vietnam ($96.5M), Italy ($25.3M), Bangladesh ($19.2M), and Indonesia ($14.6M).
Growth In April 2023, the increase in Knitted clothing accesories's year-by-year exports was explained primarily by an increase in exports to United States ($8.54M or 73.2%), Vietnam ($1.54M or 67.9%), and Burma ($1.06M or 332%). In April 2023, the decrease in Knitted clothing accesories's year-by-year imports was explained primarily by a decrease in imports from Sri Lanka ($-731k or -22.6%), Malaysia ($-514k or -53.9%), and Honduras ($-285k or -41.4%).
EXPORT GROWTH (April 2022 - April 2023): $6.2M, (8.14%)
IMPORT GROWTH (April 2022 - April 2023): $-34.3M, (-8.73%)
MAIN DESTINATION (April 2023): United States, $18.1M
This section shows Knitted clothing accesories'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 Knitted clothing accesories over time.
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EXPORTS (2021): $902M
IMPORTS (2021): $5.63B
NET TRADE (2021): -$4.72B
In 2021, South Korea exported $902M in Knitted clothing accesories. The main destinations of South Korea exports on Knitted clothing accesories were Japan ($220M), United States ($192M), China ($186M), Hong Kong ($52.7M), and Vietnam ($35.4M).
In 2021, South Korea imported $5.63B in Knitted clothing accesories, mainly from China ($2.94B), Vietnam ($1.1B), Italy ($314M), Bangladesh ($252M), and Indonesia ($191M).
THE FASTEST GROWING Knitted clothing accesories EXPORT MARKETS FOR South Korea WERE (2020 - 2021):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knitted clothing accesories BY South Korea WERE (2020 - 2021):
In 2021, South Korea's main exporting competitors in Knitted clothing accesories were:
In 2021, South Korea's main importing competitors in Knitted clothing accesories were:
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