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2022
Exports $344MWorld Rnk 28 / 224
Flag Rnk 61 / 96
2022
Destination $4.85M United States
2021 - 2022
FASTEST GROWING MARKET $4.85MHong Kong
2022
PRODUCT COMPLEXITY IN Leather articles-0.063Rnk 569 / 1025
2022
Imports $3.65BWorld Rnk 7 / 225
Flag Rnk 24 / 96
2022
Origin $203M China
2021 - 2022
FASTEST GROWING ORIGIN $203MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $344M in Leather articles, making it the 28th largest exporter of Leather articles in the world. At the same year, Leather articles was the 61st most exported product in South Korea. The main destination of Leather articles exports from South Korea are: United States ($68.6M), China ($60.5M), Hong Kong ($48.7M), Japan ($28.7M), and Germany ($20.8M).

The fastest growing export markets for Leather articles of South Korea between 2021 and 2022 were Hong Kong ($4.85M), Singapore ($2.01M), and Chinese Taipei ($1.77M).

Imports In 2022, South Korea imported $3.65B in Leather articles, becoming the 7th largest importer of Leather articles in the world. At the same year, Leather articles was the 24th most imported product in South Korea. South Korea imports Leather articles primarily from: China ($1.47B), Italy ($1.16B), France ($483M), Vietnam ($128M), and United Kingdom ($54.4M).

The fastest growing import markets in Leather articles for South Korea between 2021 and 2022 were China ($203M), Italy ($170M), and Vietnam ($26.5M).

COMPANIES In 2023, leading companies such as Banana Republic (5), LG Electronics (3), and Helly Hansen (2) were at the forefront of shipping Leather articles from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Leather articles exports accounted up to $33.2M and imports accounted up to $336M, resulting in a negative trade balance of $302M. Between July 2023 and July 2024 the exports of South Korea's   Leather articles have decreased by $-9.97M (-23.1%) from $43.2M to $33.2M, while imports increased by $6.59M (2%) from $329M to $336M.

Destinations In July 2024, Leather articles were exported mostly to Hong Kong ($8.09M), United States ($4.67M), Japan ($3.8M), China ($3.45M), and Thailand ($1.53M), and were imported mostly from China ($116M), Italy ($99.1M), France ($59.6M), Vietnam ($17.2M), and Spain ($8.85M).

Growth In July 2024, the decrease in Leather articles's year-by-year exports was explained primarily by a decrease in exports to China ($-3.67M or -55.4%), United States ($-3.27M or -48.5%), and Hong Kong ($-2.89M or -68.4%). In July 2024, the increase in Leather articles's year-by-year imports was explained primarily by an increase in imports from Vietnam ($3.44M or 23.1%), China ($2.97M or 3%), and Thailand ($1.24M or 116%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-9.97M(-23.1%)
IMPORT GROWTH (July 2023 - July 2024)$6.59M(2%)
MAIN DESTINATION (July 2024)Hong Kong$8.09M

This section shows Leather articles'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 Leather articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$344M
IMPORTS (2022)$3.65B
NET TRADE (2022)-$3.31B

In 2022, South Korea exported $344M in Leather articles. The main destinations of South Korea exports on Leather articles were United States ($68.6M), China ($60.5M), Hong Kong ($48.7M), Japan ($28.7M), and Germany ($20.8M).

In 2022, South Korea imported $3.65B in Leather articles, mainly from China ($1.47B), Italy ($1.16B), France ($483M), Vietnam ($128M), and United Kingdom ($54.4M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Leather articles EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Hong Kong$4.85M (11.1%)
Singapore$2.01M (45.1%)
Chinese Taipei$1.77M (37.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Leather articles BY South Korea WERE (2021 - 2022):
China-$41.4M (-40.6%)
United States-$28.6M (-29.4%)
Netherlands-$7.69M (-67%)
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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 Leather articles were:
China $36.3B
France $12.5B
Italy $11.3B
In 2022, South Korea's main importing competitors in Leather articles were:
United States $17.2B
Germany $5.8B
Japan $5.41B

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Trade Value of Leather articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $35.7M
TOP IMPORT POTENTIALChina+ $317M

Leather articles’s highest export potential is China. With an export gap of $35.7M.   Leather articles’s highest import potential is China with an import gap of $317M.

See methodology.

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