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2022
Exports $119MWorld Rnk 14 / 160
Flag Rnk 353 / 1204
2022
Destination $5.32M China
2021 - 2022
FASTEST GROWING MARKET $5.32MVietnam
2022
PRODUCT COMPLEXITY IN Knitting Machine Accessories1.56Rnk 40 / 1025
2022
Imports $52.8MWorld Rnk 20 / 202
Flag Rnk 658 / 1213
2022
Origin $4.24M China
2021 - 2022
FASTEST GROWING ORIGIN $4.24MUnited Kingdom
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $119M in Knitting Machine Accessories, making it the 14th largest exporter of Knitting Machine Accessories in the world. At the same year, Knitting Machine Accessories was the 353rd most exported product in South Korea. The main destination of Knitting Machine Accessories exports from South Korea are: China ($26M), Vietnam ($19.9M), India ($9.93M), Indonesia ($6.97M), and Turkey ($6.1M).

The fastest growing export markets for Knitting Machine Accessories of South Korea between 2021 and 2022 were Vietnam ($5.32M), Indonesia ($1.95M), and Japan ($1.66M).

Imports In 2022, South Korea imported $52.8M in Knitting Machine Accessories, becoming the 20th largest importer of Knitting Machine Accessories in the world. At the same year, Knitting Machine Accessories was the 658th most imported product in South Korea. South Korea imports Knitting Machine Accessories primarily from: China ($18.8M), Germany ($8.21M), Japan ($4.58M), United Kingdom ($4.45M), and Switzerland ($3.53M).

The fastest growing import markets in Knitting Machine Accessories for South Korea between 2021 and 2022 were United Kingdom ($4.24M), Singapore ($2.66M), and Switzerland ($1.51M).

COMPANIES In 2023, leading companies such as TE Connectivity (18), Robert Bosch (1), and Goldensee Limited (1) were at the forefront of shipping Knitting Machine Accessories from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Knitting Machine Accessories exports accounted up to $7.88M and imports accounted up to $3.33M, resulting in a positive trade balance of $4.55M. Between October 2023 and October 2024 the exports of South Korea's   Knitting Machine Accessories have decreased by $-1.04M (-11.7%) from $8.92M to $7.88M, while imports decreased by $-273k (-7.57%) from $3.61M to $3.33M.

Destinations In October 2024, Knitting Machine Accessories were exported mostly to Vietnam ($1.57M), China ($1.35M), United States ($586k), Turkey ($578k), and Indonesia ($545k), and were imported mostly from China ($1.29M), Germany ($802k), Japan ($463k), Vietnam ($136k), and India ($135k).

Growth In October 2024, the decrease in Knitting Machine Accessories's year-by-year exports was explained primarily by a decrease in exports to China ($-2.7M or -84.4%), Bangladesh ($-283k or -78%), and Pakistan ($-218k or -76.8%). In October 2024, the decrease in Knitting Machine Accessories's year-by-year imports was explained primarily by a decrease in imports from Italy ($-221k or -71.5%), Japan ($-142k or -25.6%), and Switzerland ($-109k or -52.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-1.04M(-11.7%)
IMPORT GROWTH (October 2023 - October 2024)$-273k(-7.57%)
MAIN DESTINATION (October 2024)Vietnam$1.57M

This section shows Knitting Machine Accessories'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 Knitting Machine Accessories over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$119M
IMPORTS (2022)$52.8M
NET TRADE (2022)$65.9M

In 2022, South Korea exported $119M in Knitting Machine Accessories. The main destinations of South Korea exports on Knitting Machine Accessories were China ($26M), Vietnam ($19.9M), India ($9.93M), Indonesia ($6.97M), and Turkey ($6.1M).

In 2022, South Korea imported $52.8M in Knitting Machine Accessories, mainly from China ($18.8M), Germany ($8.21M), Japan ($4.58M), United Kingdom ($4.45M), and Switzerland ($3.53M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knitting Machine Accessories EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
Vietnam$5.32M (36.5%)
Indonesia$1.95M (38.8%)
Japan$1.66M (78.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knitting Machine Accessories BY South Korea WERE (2021 - 2022):
Turkey-$4.48M (-42.3%)
China-$2.36M (-8.34%)
Brazil-$1.93M (-30.9%)
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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 Knitting Machine Accessories were:
China $956M
Germany $952M
Italy $391M
In 2022, South Korea's main importing competitors in Knitting Machine Accessories were:
China $856M
India $548M
Germany $490M

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Trade Value of Knitting Machine Accessories by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $11.7M
TOP IMPORT POTENTIALChina+ $7.1M

Knitting Machine Accessories’s highest export potential is China. With an export gap of $11.7M.   Knitting Machine Accessories’s highest import potential is China with an import gap of $7.1M.

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