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2022
Exports $2.28BWorld Rnk 3 / 184
Flag Rnk 22 / 96
2022
Destination $30.1M Vietnam
2021 - 2022
FASTEST GROWING MARKET $30.1MTurkey
2022
PRODUCT COMPLEXITY IN Knitted fabrics0.18Rnk 494 / 1025
2022
Imports $207MWorld Rnk 45 / 216
Flag Rnk 84 / 96
2022
Origin $20M China
2021 - 2022
FASTEST GROWING ORIGIN $20MIndia
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $2.28B in Knitted fabrics, making it the 3rd largest exporter of Knitted fabrics in the world. At the same year, Knitted fabrics was the 22nd most exported product in South Korea. The main destination of Knitted fabrics exports from South Korea are: Vietnam ($806M), Indonesia ($338M), United States ($221M), China ($151M), and Turkey ($87.3M).

The fastest growing export markets for Knitted fabrics of South Korea between 2021 and 2022 were Turkey ($30.1M), United States ($23M), and Italy ($6.75M).

Imports In 2022, South Korea imported $207M in Knitted fabrics, becoming the 45th largest importer of Knitted fabrics in the world. At the same year, Knitted fabrics was the 84th most imported product in South Korea. South Korea imports Knitted fabrics primarily from: China ($91.8M), India ($39.7M), Vietnam ($24.5M), Italy ($20.2M), and Japan ($13.7M).

The fastest growing import markets in Knitted fabrics for South Korea between 2021 and 2022 were India ($20M), United States ($942k), and Belgium ($175k).

COMPANIES In 2023, leading companies such as Jo-Ann Stores (2) and LG Electronics (1) were at the forefront of shipping Knitted fabrics from South Korea to the United States.

Latest Trends

July 2024

About

Overview In July 2024 South Korea's Knitted fabrics exports accounted up to $142M and imports accounted up to $10.3M, resulting in a positive trade balance of $132M. Between July 2023 and July 2024 the exports of South Korea's   Knitted fabrics have increased by $7.77M (5.78%) from $134M to $142M, while imports increased by $1.7M (19.7%) from $8.61M to $10.3M.

Destinations In July 2024, Knitted fabrics were exported mostly to Vietnam ($49.1M), Indonesia ($24.3M), United States ($10.1M), China ($10.1M), and Turkey ($6.07M), and were imported mostly from China ($5.54M), Japan ($1.17M), Italy ($1.05M), Vietnam ($903k), and Chinese Taipei ($330k).

Growth In July 2024, the increase in Knitted fabrics's year-by-year exports was explained primarily by an increase in exports to Saudi Arabia ($385k or 65.4%), Sri Lanka ($340k or 39.4%), and Argentina ($273k or 488%). In July 2024, the increase in Knitted fabrics's year-by-year imports was explained primarily by an increase in imports from Italy ($290k or 34.1%), United States ($251k or 5.02k%), and Japan ($136k or 16.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$7.77M(5.78%)
IMPORT GROWTH (July 2023 - July 2024)$1.7M(19.7%)
MAIN DESTINATION (July 2024)Vietnam$49.1M

This section shows Knitted fabrics'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 Knitted fabrics over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.28B
IMPORTS (2022)$207M
NET TRADE (2022)$2.07B

In 2022, South Korea exported $2.28B in Knitted fabrics. The main destinations of South Korea exports on Knitted fabrics were Vietnam ($806M), Indonesia ($338M), United States ($221M), China ($151M), and Turkey ($87.3M).

In 2022, South Korea imported $207M in Knitted fabrics, mainly from China ($91.8M), India ($39.7M), Vietnam ($24.5M), Italy ($20.2M), and Japan ($13.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knitted fabrics EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Turkey$30.1M (52.7%)
United States$23M (11.6%)
Italy$6.75M (40.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knitted fabrics BY South Korea WERE (2021 - 2022):
Vietnam-$83.2M (-9.36%)
Indonesia-$53.8M (-13.7%)
Philippines-$26M (-32.6%)
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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 Knitted fabrics were:
China $21.7B
Chinese Taipei $2.55B
In 2022, South Korea's main importing competitors in Knitted fabrics were:
Vietnam $7.08B
Cambodia $2.67B
Bangladesh $2.28B

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Trade Value of Knitted fabrics by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $38.7M
TOP IMPORT POTENTIALChina+ $45.8M

Knitted fabrics’s highest export potential is China. With an export gap of $38.7M.   Knitted fabrics’s highest import potential is China with an import gap of $45.8M.

See methodology.

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