Looms in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $11.1M in Looms, making it the 12th largest exporter of Looms in the world. At the same year, Looms was the 718th most exported product in South Korea. The main destination of Looms exports from South Korea are: Vietnam ($4.33M), India ($2.09M), China ($1.21M), Indonesia ($1.01M), and United Arab Emirates ($636k).

The fastest growing export markets for Looms of South Korea between 2021 and 2022 were Vietnam ($1.59M), India ($1.23M), and Mexico ($265k).

Imports In 2022, South Korea imported $10.3M in Looms, becoming the 25th largest importer of Looms in the world. At the same year, Looms was the 938th most imported product in South Korea. South Korea imports Looms primarily from: China ($3.98M), Japan ($2.68M), Italy ($2.32M), Belgium ($600k), and Switzerland ($555k).

The fastest growing import markets in Looms for South Korea between 2021 and 2022 were Switzerland ($438k), United States ($20.7k), and Netherlands ($15.2k).

Latest Trends

October 2024

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Overview In October 2024 South Korea's Looms exports accounted up to $753k and imports accounted up to $414k, resulting in a positive trade balance of $339k. Between October 2023 and October 2024 the exports of South Korea's Looms have decreased by $-1.11M (-59.6%) from $1.87M to $753k, while imports decreased by $-1.12M (-73%) from $1.53M to $414k.

Destinations In October 2024, Looms were exported mostly to United Arab Emirates ($288k), Iran ($264k), Indonesia ($97k), Pakistan ($46k), and Vietnam ($36k), and were imported mostly from China ($404k), Italy ($10k), United Arab Emirates ($0), Bangladesh ($0), and Indonesia ($0).

Growth In October 2024, the decrease in Looms's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-1.81M or -97.7%), Indonesia ($-21k or -13.3%), and Japan ($-1k or -100%). In October 2024, the decrease in Looms's year-by-year imports was explained primarily by a decrease in imports from United States ($-3k or -100%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2023 - October 2024)$-1.11M(-59.6%)

IMPORT GROWTH (October 2023 - October 2024)$-1.12M(-73%)

MAIN DESTINATION (October 2024)United Arab Emirates$288k

This section shows Looms'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 Looms over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$11.1M

IMPORTS (2022)$10.3M

NET TRADE (2022)$735k

In 2022, South Korea exported $11.1M in Looms. The main destinations of South Korea exports on Looms were Vietnam ($4.33M), India ($2.09M), China ($1.21M), Indonesia ($1.01M), and United Arab Emirates ($636k).

In 2022, South Korea imported $10.3M in Looms, mainly from China ($3.98M), Japan ($2.68M), Italy ($2.32M), Belgium ($600k), and Switzerland ($555k).

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