Cotton in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $424M in Cotton, making it the 19th largest exporter of Cotton in the world. At the same year, Cotton was the 56th most exported product in South Korea. The main destination of Cotton exports from South Korea are: United States ($155M), Vietnam ($71.1M), China ($29.1M), Indonesia ($24.7M), and Guatemala ($17M).

The fastest growing export markets for Cotton of South Korea between 2021 and 2022 were Dominican Republic ($5.26M), Japan ($2.63M), and Indonesia ($1.24M).

Imports In 2022, South Korea imported $1.16B in Cotton, becoming the 10th largest importer of Cotton in the world. At the same year, Cotton was the 55th most imported product in South Korea. South Korea imports Cotton primarily from: Vietnam ($290M), China ($217M), India ($185M), Australia ($115M), and United States ($108M).

The fastest growing import markets in Cotton for South Korea between 2021 and 2022 were Australia ($95.1M), Italy ($3.24M), and Japan ($1.84M).

COMPANIES In 2023, leading companies such as Costco Wholesale (8), LG Electronics (7), and Jo-Ann Stores (2) were at the forefront of shipping Cotton from South Korea to the United States.

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Cotton exports accounted up to $25.9M and imports accounted up to $53.5M, resulting in a negative trade balance of $27.6M. Between September 2023 and September 2024 the exports of South Korea's Cotton have increased by $42k (0.16%) from $25.9M to $25.9M, while imports decreased by $-3.81M (-6.65%) from $57.3M to $53.5M.

Destinations In September 2024, Cotton were exported mostly to United States ($11.9M), Vietnam ($5.45M), China ($1.19M), Indonesia ($1.18M), and United Arab Emirates ($976k), and were imported mostly from Vietnam ($17.2M), India ($12.3M), China ($12.3M), Pakistan ($3.07M), and Brazil ($2.61M).

Growth In September 2024, the increase in Cotton's year-by-year exports was explained primarily by an increase in exports to China ($241k or 13%), Philippines ($203k or 186%), and Denmark ($41k or 53.2%). In September 2024, the decrease in Cotton's year-by-year imports was explained primarily by a decrease in imports from Vietnam ($-19.6M or -46.2%), India ($-13M or -49.6%), and China ($-7.24M or -32.2%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (September 2023 - September 2024)$42k(0.16%)

IMPORT GROWTH (September 2023 - September 2024)$-3.81M(-6.65%)

MAIN DESTINATION (September 2024)United States$11.9M

This section shows Cotton'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 Cotton over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$424M

IMPORTS (2022)$1.16B

NET TRADE (2022)-$732M

In 2022, South Korea exported $424M in Cotton. The main destinations of South Korea exports on Cotton were United States ($155M), Vietnam ($71.1M), China ($29.1M), Indonesia ($24.7M), and Guatemala ($17M).

In 2022, South Korea imported $1.16B in Cotton, mainly from Vietnam ($290M), China ($217M), India ($185M), Australia ($115M), and United States ($108M).

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