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2022
Exports $978kWorld Rnk 67 / 188
Flag Rnk 988 / 1204
2022
Destination $81k United States
2021 - 2022
FASTEST GROWING MARKET $81kUnited States
2022
PRODUCT COMPLEXITY IN Hand-Woven Rugs-0.91Rnk 811 / 1025
2022
Imports $40.3MWorld Rnk 29 / 217
Flag Rnk 717 / 1213
2022
Origin $2.04M Vietnam
2021 - 2022
FASTEST GROWING ORIGIN $2.04MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $978k in Hand-Woven Rugs, making it the 67th largest exporter of Hand-Woven Rugs in the world. At the same year, Hand-Woven Rugs was the 988th most exported product in South Korea. The main destination of Hand-Woven Rugs exports from South Korea are: United States ($219k), Japan ($215k), Czechia ($151k), Philippines ($74k), and China ($57.5k).

The fastest growing export markets for Hand-Woven Rugs of South Korea between 2021 and 2022 were United States ($81k), Philippines ($70k), and Azerbaijan ($33k).

Imports In 2022, South Korea imported $40.3M in Hand-Woven Rugs, becoming the 29th largest importer of Hand-Woven Rugs in the world. At the same year, Hand-Woven Rugs was the 717th most imported product in South Korea. South Korea imports Hand-Woven Rugs primarily from: Vietnam ($16.1M), China ($14.2M), Belgium ($1.85M), Spain ($1.36M), and India ($1.34M).

The fastest growing import markets in Hand-Woven Rugs for South Korea between 2021 and 2022 were Vietnam ($2.04M), China ($1.08M), and United Kingdom ($370k).

COMPANIES In 2023, leading companies such as David Peyser Sportswear (1) and CSI Importers (1) were at the forefront of shipping Hand-Woven Rugs from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Hand-Woven Rugs exports accounted up to $45k and imports accounted up to $2.98M, resulting in a negative trade balance of $2.94M. Between July 2023 and July 2024 the exports of South Korea's   Hand-Woven Rugs have decreased by $-15k (-25%) from $60k to $45k, while imports decreased by $-637k (-17.6%) from $3.62M to $2.98M.

Destinations In July 2024, Hand-Woven Rugs were exported mostly to Spain ($19k), United States ($7k), China ($6k), Vietnam ($5k), and Australia ($3k), and were imported mostly from Vietnam ($1.3M), China ($850k), Spain ($199k), Belgium ($197k), and Ireland ($100k).

Growth In July 2024, the decrease in Hand-Woven Rugs's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-22k or -100%) and United States ($-6k or -54.5%). In July 2024, the decrease in Hand-Woven Rugs's year-by-year imports was explained primarily by a decrease in imports from Spain ($-290k or -61.4%), China ($-272k or -34.7%), and Sweden ($-87k or -73.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-15k(-25%)
IMPORT GROWTH (July 2023 - July 2024)$-637k(-17.6%)
MAIN DESTINATION (July 2024)Spain$19k

This section shows Hand-Woven Rugs'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 Hand-Woven Rugs over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$978k
IMPORTS (2022)$40.3M
NET TRADE (2022)-$39.3M

In 2022, South Korea exported $978k in Hand-Woven Rugs. The main destinations of South Korea exports on Hand-Woven Rugs were United States ($219k), Japan ($215k), Czechia ($151k), Philippines ($74k), and China ($57.5k).

In 2022, South Korea imported $40.3M in Hand-Woven Rugs, mainly from Vietnam ($16.1M), China ($14.2M), Belgium ($1.85M), Spain ($1.36M), and India ($1.34M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Hand-Woven Rugs EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$81k (58.9%)
Philippines$70k (1.75k%)
Azerbaijan$33k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Hand-Woven Rugs BY South Korea WERE (2021 - 2022):
Vietnam-$158k (-82%)
India-$52.5k (-100%)
Macau-$31.7k (-100%)
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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 Hand-Woven Rugs were:
Turkey $2.34B
India $785M
China $584M
In 2022, South Korea's main importing competitors in Hand-Woven Rugs were:
United States $1.61B
Germany $392M
Saudi Arabia $218M

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Trade Value of Hand-Woven Rugs by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $275k
TOP IMPORT POTENTIALChina+ $3.32M

Hand-Woven Rugs’s highest export potential is United States. With an export gap of $275k.   Hand-Woven Rugs’s highest import potential is China with an import gap of $3.32M.

See methodology.

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