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2023
Exports $55.3MWorld Rnk 27 / 208
Flag Rnk 432 / 1188
2023
Destination $4.62M United States
2022 - 2023
FASTEST GROWING MARKET $4.62MUnited States
2023
PRODUCT COMPLEXITY IN Knit Men's Shirts-1.58Rnk 956 / 1025
2023
Imports $93.1MWorld Rnk 18 / 222
Flag Rnk 491 / 1208
2023
Origin $14M China
2022 - 2023
FASTEST GROWING ORIGIN $14MHong Kong
2023
ECONOMIC COMPLEXITY of South Korea1.85Rnk 4 / 132

About

Exports In 2023, South Korea exported $55.3M in Knit Men's Shirts, making it the 27th largest exporter of Knit Men's Shirts in the world. At the same year, Knit Men's Shirts was the 432nd most exported product in South Korea. The main destination of Knit Men's Shirts exports from South Korea are: United States ($42.3M), China ($4.03M), Mexico ($1.72M), Germany ($1.18M), and Hong Kong ($1.15M).

The fastest growing export markets for Knit Men's Shirts of South Korea between 2022 and 2023 were United States ($4.62M), Mexico ($688k), and Canada ($551k).

Imports In 2023, South Korea imported $93.1M in Knit Men's Shirts, becoming the 18th largest importer of Knit Men's Shirts in the world. At the same year, Knit Men's Shirts was the 491st most imported product in South Korea. South Korea imports Knit Men's Shirts primarily from: China ($34M), Hong Kong ($14.1M), Italy ($12.8M), United Kingdom ($3.9M), and France ($3.73M).

The fastest growing import markets in Knit Men's Shirts for South Korea between 2022 and 2023 were Hong Kong ($14M), Italy ($7.55M), and United Kingdom ($3.33M).

Latest Trends

December 2024

About

Overview In December 2024 South Korea's Knit Men's Shirts exports accounted up to $7.59M and imports accounted up to $11.3M, resulting in a negative trade balance of $3.75M. Between December 2023 and December 2024 the exports of South Korea's   Knit Men's Shirts have increased by $1.64M (27.6%) from $5.95M to $7.59M, while imports increased by $998k (9.65%) from $10.3M to $11.3M.

Destinations In December 2024, Knit Men's Shirts were exported mostly to United States ($6.09M), China ($648k), Japan ($176k), Sweden ($157k), and United Kingdom ($108k), and were imported mostly from Vietnam ($5.27M), China ($2.55M), Italy ($790k), Indonesia ($522k), and Portugal ($473k).

Growth In December 2024, the increase in Knit Men's Shirts's year-by-year exports was explained primarily by an increase in exports to United Kingdom ($50k or 161%), China ($22k or 2.78%), and Netherlands ($3k or 300%). In December 2024, the increase in Knit Men's Shirts's year-by-year imports was explained primarily by an increase in imports from China ($692k or 21.1%), Italy ($563k or 96.7%), and Indonesia ($543k or 175%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$1.64M(27.6%)
IMPORT GROWTH (December 2023 - December 2024)$998k(9.65%)
MAIN DESTINATION (December 2024)United States$6.09M

This section shows Knit Men's Shirts'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 Knit Men's Shirts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$55.3M
IMPORTS (2023)$93.1M
NET TRADE (2023)-$37.7M

In 2023, South Korea exported $55.3M in Knit Men's Shirts. The main destinations of South Korea exports on Knit Men's Shirts were United States ($42.3M), China ($4.03M), Mexico ($1.72M), Germany ($1.18M), and Hong Kong ($1.15M).

In 2023, South Korea imported $93.1M in Knit Men's Shirts, mainly from China ($34M), Hong Kong ($14.1M), Italy ($12.8M), United Kingdom ($3.9M), and France ($3.73M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Knit Men's Shirts EXPORT MARKETS FOR South Korea WERE (2022 - 2023):
United States$4.62M (12.2%)
Mexico$688k (66.7%)
Canada$551k (157%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Men's Shirts BY South Korea WERE (2022 - 2023):
China-$2.27M (-36%)
Vietnam-$1.02M (-100%)
Mongolia-$85.5k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, South Korea's main exporting competitors in Knit Men's Shirts were:
China $1.4B
Bangladesh $1.35B
Vietnam $1.07B
In 2023, South Korea's main importing competitors in Knit Men's Shirts were:
United States $2.43B
Germany $741M
United Kingdom $501M

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Trade Value of Knit Men's Shirts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $2.27M
TOP IMPORT POTENTIALChina+ $13.6M

Knit Men's Shirts’s highest export potential is China. With an export gap of $2.27M.   Knit Men's Shirts’s highest import potential is China with an import gap of $13.6M.

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