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2022
Exports $351MWorld Rnk 5 / 209
Flag Rnk 195 / 1204
falsefalse Malaysia
2021 - 2022
FASTEST GROWING MARKETfalseIndia
2022
PRODUCT COMPLEXITY IN Used Clothing-0.56Rnk 716 / 1025
2022
Imports $18.6MWorld Rnk 68 / 216
Flag Rnk 837 / 1213
2021 - 2022
FASTEST GROWING ORIGINfalseN/A
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $351M in Used Clothing, making it the 5th largest exporter of Used Clothing in the world. At the same year, Used Clothing was the 195th most exported product in South Korea. The main destination of Used Clothing exports from South Korea are: Malaysia ($99.3M), India ($52.5M), Philippines ($31M), Chile ($29.6M), and Thailand ($28.1M).

The fastest growing export markets for Used Clothing of South Korea between 2021 and 2022 were India ($19.5M), Chile ($9.17M), and Malaysia ($5.48M).

Imports In 2022, South Korea imported $18.6M in Used Clothing, becoming the 68th largest importer of Used Clothing in the world. At the same year, Used Clothing was the 837th most imported product in South Korea. South Korea imports Used Clothing primarily from: Japan ($10.4M), China ($3.17M), Thailand ($1.48M), Hong Kong ($414k), and United States ($287k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Used Clothing exports accounted up to $35.1M and imports accounted up to $2.97M, resulting in a positive trade balance of $32.1M. Between October 2023 and October 2024 the exports of South Korea's   Used Clothing have increased by $8.86M (33.7%) from $26.3M to $35.1M, while imports increased by $653k (28.2%) from $2.31M to $2.97M.

Destinations In October 2024, Used Clothing were exported mostly to Malaysia ($13.1M), Thailand ($4.09M), India ($3.23M), Chile ($3.13M), and Philippines ($2.97M), and were imported mostly from Japan ($973k), United States ($479k), China ($465k), United Kingdom ($124k), and Germany ($120k).

Growth In October 2024, the increase in Used Clothing's year-by-year exports was explained primarily by an increase in exports to Malaysia ($2.1M or 28.9%), India ($1.4M or 50.2%), and Thailand ($553k or 25.2%). In October 2024, the increase in Used Clothing's year-by-year imports was explained primarily by an increase in imports from China ($221k or 121%), Thailand ($115k or 217%), and India ($50k or 250%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$8.86M(33.7%)
IMPORT GROWTH (October 2023 - October 2024)$653k(28.2%)
MAIN DESTINATION (October 2024)Malaysia$13.1M

This section shows Used Clothing'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 Used Clothing over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$351M
IMPORTS (2022)$18.6M
NET TRADE (2022)$332M

In 2022, South Korea exported $351M in Used Clothing. The main destinations of South Korea exports on Used Clothing were Malaysia ($99.3M), India ($52.5M), Philippines ($31M), Chile ($29.6M), and Thailand ($28.1M).

In 2022, South Korea imported $18.6M in Used Clothing, mainly from Japan ($10.4M), China ($3.17M), Thailand ($1.48M), Hong Kong ($414k), and United States ($287k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Used Clothing EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
India$19.5M (59%)
Chile$9.17M (45%)
Malaysia$5.48M (5.84%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Used Clothing BY South Korea WERE (2021 - 2022):
Nigeria-$8.68M (-30.2%)
Ghana-$3.61M (-41.8%)
Cambodia-$2.89M (-14.7%)
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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 Used Clothing were:
United States $1.01B
China $852M
United Kingdom $430M
In 2022, South Korea's main importing competitors in Used Clothing were:
Pakistan $250M
United Arab Emirates $233M
Chile $225M

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Trade Value of Used Clothing by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $2.46M
TOP IMPORT POTENTIALChina+ $3.03M

Used Clothing’s highest export potential is China. With an export gap of $2.46M.   Used Clothing’s highest import potential is China with an import gap of $3.03M.

See methodology.

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