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2022
Exports $191MWorld Rnk 2 / 141
Flag Rnk 287 / 1204
2022
Destination $13.8M Vietnam
2021 - 2022
FASTEST GROWING MARKET $13.8MVietnam
2022
PRODUCT COMPLEXITY IN Pile Fabric0.18Rnk 494 / 1025
2022
Imports $29.2MWorld Rnk 47 / 195
Flag Rnk 774 / 1213
2022
Origin $1.45M China
2021 - 2022
FASTEST GROWING ORIGIN $1.45MIndia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $191M in Pile Fabric, making it the 2nd largest exporter of Pile Fabric in the world. At the same year, Pile Fabric was the 287th most exported product in South Korea. The main destination of Pile Fabric exports from South Korea are: Vietnam ($51.6M), Indonesia ($25.8M), United States ($22.2M), Turkey ($12.6M), and China ($12.5M).

The fastest growing export markets for Pile Fabric of South Korea between 2021 and 2022 were Vietnam ($13.8M), Cambodia ($4.32M), and Pakistan ($3.32M).

Imports In 2022, South Korea imported $29.2M in Pile Fabric, becoming the 47th largest importer of Pile Fabric in the world. At the same year, Pile Fabric was the 774th most imported product in South Korea. South Korea imports Pile Fabric primarily from: China ($22.8M), Italy ($1.6M), India ($1.52M), Chinese Taipei ($1.46M), and United States ($826k).

The fastest growing import markets in Pile Fabric for South Korea between 2021 and 2022 were India ($1.45M), Italy ($828k), and Chinese Taipei ($225k).

COMPANIES In 2023, leading companies such as Jo-Ann Stores (2) and LG Electronics (1) were at the forefront of shipping Pile Fabric from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Pile Fabric exports accounted up to $13M and imports accounted up to $2.3M, resulting in a positive trade balance of $10.7M. Between July 2023 and July 2024 the exports of South Korea's   Pile Fabric have decreased by $-339k (-2.55%) from $13.3M to $13M, while imports increased by $65k (2.91%) from $2.24M to $2.3M.

Destinations In July 2024, Pile Fabric were exported mostly to Vietnam ($5.16M), Indonesia ($1.6M), China ($931k), United States ($909k), and Turkey ($746k), and were imported mostly from China ($1.74M), Chinese Taipei ($268k), Italy ($138k), Vietnam ($75k), and United States ($59k).

Growth In July 2024, the decrease in Pile Fabric's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-4.27M or -63.9%), Indonesia ($-2.75M or -85.8%), and United States ($-1.08M or -54.8%). In July 2024, the increase in Pile Fabric's year-by-year imports was explained primarily by an increase in imports from Italy ($168k or 884%) and Vietnam ($44k or 400%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-339k(-2.55%)
IMPORT GROWTH (July 2023 - July 2024)$65k(2.91%)
MAIN DESTINATION (July 2024)Vietnam$5.16M

This section shows Pile Fabric'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 Pile Fabric over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$191M
IMPORTS (2022)$29.2M
NET TRADE (2022)$162M

In 2022, South Korea exported $191M in Pile Fabric. The main destinations of South Korea exports on Pile Fabric were Vietnam ($51.6M), Indonesia ($25.8M), United States ($22.2M), Turkey ($12.6M), and China ($12.5M).

In 2022, South Korea imported $29.2M in Pile Fabric, mainly from China ($22.8M), Italy ($1.6M), India ($1.52M), Chinese Taipei ($1.46M), and United States ($826k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pile Fabric EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$13.8M (36.5%)
Cambodia$4.32M (57.2%)
Pakistan$3.32M (114%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pile Fabric BY South Korea WERE (2021 - 2022):
Indonesia-$7.64M (-22.8%)
United States-$4.33M (-16.4%)
Jordan-$3.71M (-70%)
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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 Pile Fabric were:
China $4.28B
Malaysia $184M
In 2022, South Korea's main importing competitors in Pile Fabric were:
Vietnam $584M
Bangladesh $554M
Indonesia $285M

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Trade Value of Pile Fabric by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $3.47M
TOP IMPORT POTENTIALChina+ $10.7M

Pile Fabric’s highest export potential is China. With an export gap of $3.47M.   Pile Fabric’s highest import potential is China with an import gap of $10.7M.

See methodology.

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