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2022
Exports $45.5MWorld Rnk 60 / 221
Flag Rnk 510 / 1204
2022
Destination $1.8M China
2021 - 2022
FASTEST GROWING MARKET $1.8MCanada
2022
PRODUCT COMPLEXITY IN Non-Knit Men's Suits-1.17Rnk 874 / 1025
2022
Imports $1.18BWorld Rnk 11 / 225
Flag Rnk 89 / 1213
2022
Origin $84.8M Vietnam
2021 - 2022
FASTEST GROWING ORIGIN $84.8MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $45.5M in Non-Knit Men's Suits, making it the 60th largest exporter of Non-Knit Men's Suits in the world. At the same year, Non-Knit Men's Suits was the 510th most exported product in South Korea. The main destination of Non-Knit Men's Suits exports from South Korea are: China ($23.3M), Hong Kong ($3.71M), Canada ($2.96M), United States ($2.9M), and United Kingdom ($1.64M).

The fastest growing export markets for Non-Knit Men's Suits of South Korea between 2021 and 2022 were Canada ($1.8M), Italy ($1.2M), and United States ($704k).

Imports In 2022, South Korea imported $1.18B in Non-Knit Men's Suits, becoming the 11th largest importer of Non-Knit Men's Suits in the world. At the same year, Non-Knit Men's Suits was the 89th most imported product in South Korea. South Korea imports Non-Knit Men's Suits primarily from: Vietnam ($440M), China ($340M), Indonesia ($83.8M), Bangladesh ($73.2M), and Burma ($58.8M).

The fastest growing import markets in Non-Knit Men's Suits for South Korea between 2021 and 2022 were China ($84.8M), Vietnam ($36.2M), and Indonesia ($23.8M).

COMPANIES In 2023, leading companies such as Samsung (3) and Tesla (1) were at the forefront of shipping Non-Knit Men's Suits from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Non-Knit Men's Suits exports accounted up to $4.12M and imports accounted up to $75.2M, resulting in a negative trade balance of $71.1M. Between October 2023 and October 2024 the exports of South Korea's   Non-Knit Men's Suits have increased by $327k (8.62%) from $3.79M to $4.12M, while imports increased by $6.06M (8.76%) from $69.2M to $75.2M.

Destinations In October 2024, Non-Knit Men's Suits were exported mostly to China ($1.96M), Japan ($570k), United States ($355k), Canada ($199k), and Hong Kong ($149k), and were imported mostly from Vietnam ($35.4M), China ($11.8M), Indonesia ($5.6M), Italy ($4.9M), and Bangladesh ($4.6M).

Growth In October 2024, the increase in Non-Knit Men's Suits's year-by-year exports was explained primarily by an increase in exports to Canada ($220k or 95.7%), Italy ($53k or 63.1%), and Vietnam ($49k or 544%). In October 2024, the increase in Non-Knit Men's Suits's year-by-year imports was explained primarily by an increase in imports from Vietnam ($17.4M or 37.4%), Indonesia ($2.57M or 29.9%), and Bangladesh ($1.66M or 23.6%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$327k(8.62%)
IMPORT GROWTH (October 2023 - October 2024)$6.06M(8.76%)
MAIN DESTINATION (October 2024)China$1.96M

This section shows Non-Knit Men'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 Non-Knit Men's Suits over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$45.5M
IMPORTS (2022)$1.18B
NET TRADE (2022)-$1.13B

In 2022, South Korea exported $45.5M in Non-Knit Men's Suits. The main destinations of South Korea exports on Non-Knit Men's Suits were China ($23.3M), Hong Kong ($3.71M), Canada ($2.96M), United States ($2.9M), and United Kingdom ($1.64M).

In 2022, South Korea imported $1.18B in Non-Knit Men's Suits, mainly from Vietnam ($440M), China ($340M), Indonesia ($83.8M), Bangladesh ($73.2M), and Burma ($58.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Non-Knit Men's Suits EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Canada$1.8M (155%)
Italy$1.2M (344%)
United States$704k (32.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Non-Knit Men's Suits BY South Korea WERE (2021 - 2022):
China-$6.16M (-20.9%)
Japan-$1.04M (-42.7%)
Vietnam-$230k (-33.6%)
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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 Non-Knit Men's Suits were:
China $10.7B
Bangladesh $8.82B
Vietnam $3.63B
In 2022, South Korea's main importing competitors in Non-Knit Men's Suits were:
United States $10.8B
Germany $5.92B
France $2.37B

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Trade Value of Non-Knit Men's Suits by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.63M
TOP IMPORT POTENTIALChina+ $97.4M

Non-Knit Men's Suits’s highest export potential is United States. With an export gap of $4.63M.   Non-Knit Men's Suits’s highest import potential is China with an import gap of $97.4M.

See methodology.

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