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2022
Exports $153MWorld Rnk 43 / 221
Flag Rnk 320 / 1204
2022
Destination $5.06M China
2021 - 2022
FASTEST GROWING MARKET $5.06MUnited States
2022
PRODUCT COMPLEXITY IN Knit Sweaters-1.3Rnk 909 / 1025
2022
Imports $1.71BWorld Rnk 11 / 218
Flag Rnk 58 / 1213
2022
Origin $45.1M China
2021 - 2022
FASTEST GROWING ORIGIN $45.1MItaly
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $153M in Knit Sweaters, making it the 43rd largest exporter of Knit Sweaters in the world. At the same year, Knit Sweaters was the 320th most exported product in South Korea. The main destination of Knit Sweaters exports from South Korea are: China ($37.5M), United States ($35.9M), Japan ($28.1M), Hong Kong ($18.5M), and Canada ($9.75M).

The fastest growing export markets for Knit Sweaters of South Korea between 2021 and 2022 were United States ($5.06M), Canada ($4.31M), and Hong Kong ($2.27M).

Imports In 2022, South Korea imported $1.71B in Knit Sweaters, becoming the 11th largest importer of Knit Sweaters in the world. At the same year, Knit Sweaters was the 58th most imported product in South Korea. South Korea imports Knit Sweaters primarily from: China ($845M), Vietnam ($218M), Italy ($181M), Bangladesh ($117M), and United Kingdom ($58.1M).

The fastest growing import markets in Knit Sweaters for South Korea between 2021 and 2022 were Italy ($45.1M), Vietnam ($38.1M), and Bangladesh ($29.6M).

Latest Trends

September 2024

About

Overview In September 2024 South Korea's Knit Sweaters exports accounted up to $14.6M and imports accounted up to $245M, resulting in a negative trade balance of $230M. Between September 2023 and September 2024 the exports of South Korea's   Knit Sweaters have increased by $303k (2.11%) from $14.3M to $14.6M, while imports increased by $20.7M (9.25%) from $224M to $245M.

Destinations In September 2024, Knit Sweaters were exported mostly to United States ($3.93M), Japan ($3.63M), China ($3.27M), Hong Kong ($1.09M), and Chinese Taipei ($535k), and were imported mostly from China ($126M), Vietnam ($34.8M), Bangladesh ($27.4M), Italy ($14M), and Indonesia ($6.69M).

Growth In September 2024, the increase in Knit Sweaters's year-by-year exports was explained primarily by an increase in exports to Australia ($131k or 226%), Thailand ($71k or 103%), and Chinese Taipei ($63k or 29%). In September 2024, the increase in Knit Sweaters's year-by-year imports was explained primarily by an increase in imports from China ($8.71M or 15.4%), Cambodia ($1.91M or 68.5%), and Bangladesh ($1.24M or 13.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$303k(2.11%)
IMPORT GROWTH (September 2023 - September 2024)$20.7M(9.25%)
MAIN DESTINATION (September 2024)United States$3.93M

This section shows Knit Sweaters'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 Sweaters over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$153M
IMPORTS (2022)$1.71B
NET TRADE (2022)-$1.56B

In 2022, South Korea exported $153M in Knit Sweaters. The main destinations of South Korea exports on Knit Sweaters were China ($37.5M), United States ($35.9M), Japan ($28.1M), Hong Kong ($18.5M), and Canada ($9.75M).

In 2022, South Korea imported $1.71B in Knit Sweaters, mainly from China ($845M), Vietnam ($218M), Italy ($181M), Bangladesh ($117M), and United Kingdom ($58.1M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit Sweaters EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
United States$5.06M (16.4%)
Canada$4.31M (79.2%)
Hong Kong$2.27M (14%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Sweaters BY South Korea WERE (2021 - 2022):
China-$2.39M (-5.99%)
Netherlands-$354k (-28.8%)
Macau-$222k (-46.9%)
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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 Sweaters were:
China $20.4B
Bangladesh $8.02B
Vietnam $4.83B
In 2022, South Korea's main importing competitors in Knit Sweaters were:
United States $15.9B
Germany $7.28B
Japan $4.37B

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Trade Value of Knit Sweaters by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $21.2M
TOP IMPORT POTENTIALChina+ $130M

Knit Sweaters’s highest export potential is United States. With an export gap of $21.2M.   Knit Sweaters’s highest import potential is China with an import gap of $130M.

See methodology.

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