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2022
Exports $53.2MWorld Rnk 35 / 207
Flag Rnk 474 / 1204
2022
Destination $2.08M Japan
2021 - 2022
FASTEST GROWING MARKET $2.08MVietnam
2022
PRODUCT COMPLEXITY IN Knit Men's Suits-1.32Rnk 915 / 1025
2022
Imports $341MWorld Rnk 13 / 221
Flag Rnk 249 / 1213
2022
Origin $6.12M China
2021 - 2022
FASTEST GROWING ORIGIN $6.12MVietnam
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $53.2M in Knit Men's Suits, making it the 35th largest exporter of Knit Men's Suits in the world. At the same year, Knit Men's Suits was the 474th most exported product in South Korea. The main destination of Knit Men's Suits exports from South Korea are: Japan ($38.4M), United States ($4.77M), Vietnam ($3.05M), China ($2.01M), and Hong Kong ($1.19M).

The fastest growing export markets for Knit Men's Suits of South Korea between 2021 and 2022 were Vietnam ($2.08M), United States ($1.43M), and Chinese Taipei ($333k).

Imports In 2018, South Korea imported $341M in Knit Men's Suits, becoming the 13th largest importer of Knit Men's Suits in the world. At the same year, Knit Men's Suits was the 249th most imported product in South Korea. South Korea imports Knit Men's Suits primarily from: China ($139M), Vietnam ($95.9M), Bangladesh ($15.8M), Indonesia ($14M), and Cambodia ($12.7M).

The fastest growing import markets in Knit Men's Suits for South Korea between 2021 and 2022 were Vietnam ($6.12M), Burma ($4.22M), and Pakistan ($3.33M).

COMPANIES In 2023, leading companies such as Stelfast (22) and LG Electronics (3) were at the forefront of shipping Knit Men's Suits from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Knit Men's Suits exports accounted up to $984k and imports accounted up to $27.8M, resulting in a negative trade balance of $26.8M. Between October 2023 and October 2024 the exports of South Korea's   Knit Men's Suits have decreased by $-52k (-5.02%) from $1.04M to $984k, while imports increased by $5.76M (26.1%) from $22M to $27.8M.

Destinations In October 2024, Knit Men's Suits were exported mostly to China ($397k), Japan ($108k), United States ($96k), Chinese Taipei ($78k), and Italy ($69k), and were imported mostly from Vietnam ($10.3M), China ($9.08M), Bangladesh ($2.15M), Cambodia ($1.12M), and Pakistan ($1.08M).

Growth In October 2024, the decrease in Knit Men's Suits's year-by-year exports was explained primarily by a decrease in exports to Japan ($-3.05M or -83.5%), Vietnam ($-385k or -99%), and United States ($-231k or -69.6%). In October 2024, the increase in Knit Men's Suits's year-by-year imports was explained primarily by an increase in imports from Cambodia ($367k or 20.4%), Philippines ($274k or 311%), and Burma ($204k or 25%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-52k(-5.02%)
IMPORT GROWTH (October 2023 - October 2024)$5.76M(26.1%)
MAIN DESTINATION (October 2024)China$397k

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

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Historical Data

Trade Balance

Color
EXPORTS (2022)$53.2M
IMPORTS (2022)$341M
NET TRADE (2022)-$288M

In 2022, South Korea exported $53.2M in Knit Men's Suits. The main destinations of South Korea exports on Knit Men's Suits were Japan ($38.4M), United States ($4.77M), Vietnam ($3.05M), China ($2.01M), and Hong Kong ($1.19M).

In 2022, South Korea imported $341M in Knit Men's Suits, mainly from China ($139M), Vietnam ($95.9M), Bangladesh ($15.8M), Indonesia ($14M), and Cambodia ($12.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit Men's Suits EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$2.08M (216%)
United States$1.43M (42.6%)
Chinese Taipei$333k (207%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Men's Suits BY South Korea WERE (2021 - 2022):
Japan-$35.4M (-47.9%)
Canada-$2.08M (-89.5%)
China-$767k (-27.6%)
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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 Knit Men's Suits were:
China $4.9B
Bangladesh $1.43B
Vietnam $1.42B
In 2022, South Korea's main importing competitors in Knit Men's Suits were:
United States $3.65B
Germany $921M
United Kingdom $799M

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Trade Value of Knit Men's Suits by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $4.53M
TOP IMPORT POTENTIALChina+ $33.3M

Knit Men's Suits’s highest export potential is United States. With an export gap of $4.53M.   Knit Men's Suits’s highest import potential is China with an import gap of $33.3M.

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