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2022
Exports $88.6MWorld Rnk 24 / 203
Flag Rnk 396 / 1204
2022
Destination $2.02M United States
2021 - 2022
FASTEST GROWING MARKET $2.02MKyrgyzstan
2022
PRODUCT COMPLEXITY IN Knit Socks and Hosiery-0.71Rnk 761 / 1025
2022
Imports $197MWorld Rnk 17 / 218
Flag Rnk 363 / 1213
2022
Origin $28.8M China
2021 - 2022
FASTEST GROWING ORIGIN $28.8MChina
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $88.6M in Knit Socks and Hosiery, making it the 24th largest exporter of Knit Socks and Hosiery in the world. At the same year, Knit Socks and Hosiery was the 396th most exported product in South Korea. The main destination of Knit Socks and Hosiery exports from South Korea are: United States ($53.9M), China ($6.17M), Kyrgyzstan ($4.79M), Canada ($4.6M), and Japan ($2.19M).

The fastest growing export markets for Knit Socks and Hosiery of South Korea between 2021 and 2022 were Kyrgyzstan ($2.02M), Italy ($648k), and Canada ($426k).

Imports In 2022, South Korea imported $197M in Knit Socks and Hosiery, becoming the 17th largest importer of Knit Socks and Hosiery in the world. At the same year, Knit Socks and Hosiery was the 363rd most imported product in South Korea. South Korea imports Knit Socks and Hosiery primarily from: China ($151M), Vietnam ($11.2M), United States ($4.31M), United Kingdom ($3.81M), and Chinese Taipei ($3.54M).

The fastest growing import markets in Knit Socks and Hosiery for South Korea between 2021 and 2022 were China ($28.8M), United States ($1.76M), and Thailand ($1.24M).

COMPANIES In 2023, leading companies such as LG Electronics (11), American Eagle Outfitters (11), and Banana Republic (2) were at the forefront of shipping Knit Socks and Hosiery from South Korea to the United States.

Latest Trends

November 2024

About

Overview In November 2024 South Korea's Knit Socks and Hosiery exports accounted up to $4.63M and imports accounted up to $13.1M, resulting in a negative trade balance of $8.48M. Between November 2023 and November 2024 the exports of South Korea's   Knit Socks and Hosiery have decreased by $-274k (-5.59%) from $4.9M to $4.63M, while imports decreased by $-463k (-3.41%) from $13.6M to $13.1M.

Destinations In November 2024, Knit Socks and Hosiery were exported mostly to United States ($2.41M), China ($740k), Kyrgyzstan ($271k), Hong Kong ($162k), and Canada ($146k), and were imported mostly from China ($8.87M), Vietnam ($1.41M), Chinese Taipei ($392k), Sri Lanka ($336k), and Japan ($300k).

Growth In November 2024, the decrease in Knit Socks and Hosiery's year-by-year exports was explained primarily by a decrease in exports to United States ($-2.03M or -59.5%), Germany ($-365k or -90.1%), and China ($-280k or -45.8%). In November 2024, the decrease in Knit Socks and Hosiery's year-by-year imports was explained primarily by a decrease in imports from China ($-1.8M or -19.4%), Sri Lanka ($-446k or -70.5%), and Japan ($-252k or -75.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-274k(-5.59%)
IMPORT GROWTH (November 2023 - November 2024)$-463k(-3.41%)
MAIN DESTINATION (November 2024)United States$2.41M

This section shows Knit Socks and Hosiery'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 Socks and Hosiery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$88.6M
IMPORTS (2022)$197M
NET TRADE (2022)-$109M

In 2022, South Korea exported $88.6M in Knit Socks and Hosiery. The main destinations of South Korea exports on Knit Socks and Hosiery were United States ($53.9M), China ($6.17M), Kyrgyzstan ($4.79M), Canada ($4.6M), and Japan ($2.19M).

In 2022, South Korea imported $197M in Knit Socks and Hosiery, mainly from China ($151M), Vietnam ($11.2M), United States ($4.31M), United Kingdom ($3.81M), and Chinese Taipei ($3.54M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit Socks and Hosiery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Kyrgyzstan$2.02M (72.9%)
Italy$648k (55%)
Canada$426k (10.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Socks and Hosiery BY South Korea WERE (2021 - 2022):
China-$3.99M (-39.3%)
United States-$2.87M (-5.06%)
Germany-$854k (-28.4%)
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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 Socks and Hosiery were:
China $7.01B
Turkey $1.38B
Germany $779M
In 2022, South Korea's main importing competitors in Knit Socks and Hosiery were:
United States $2.93B
Germany $1.51B
Japan $866M

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Trade Value of Knit Socks and Hosiery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $2.47M
TOP IMPORT POTENTIALChina+ $28.4M

Knit Socks and Hosiery’s highest export potential is Japan. With an export gap of $2.47M.   Knit Socks and Hosiery’s highest import potential is China with an import gap of $28.4M.

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