Silk in South Korea | The Observatory of Economic Complexity

About

Exports In 2022, South Korea exported $29.6M in Silk, making it the 10th largest exporter of Silk in the world. At the same year, Silk was the 88th most exported product in South Korea. The main destination of Silk exports from South Korea are: United States ($15.4M), United Arab Emirates ($2.44M), Hong Kong ($1.72M), China ($1.67M), and Colombia ($749k).

The fastest growing export markets for Silk of South Korea between 2021 and 2022 were United States ($5.64M), China ($714k), and Saudi Arabia ($574k).

Imports In 2022, South Korea imported $39.6M in Silk, becoming the 11th largest importer of Silk in the world. At the same year, Silk was the 95th most imported product in South Korea. South Korea imports Silk primarily from: China ($33.5M), Italy ($2.28M), Vietnam ($1.63M), Uzbekistan ($1.4M), and India ($277k).

The fastest growing import markets in Silk for South Korea between 2021 and 2022 were China ($5.91M), Italy ($626k), and Uzbekistan ($500k).

COMPANIES In 2023, leading companies such as General Motors (13) and LG Electronics (2) were at the forefront of shipping Silk from South Korea to the United States.

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Silk exports accounted up to $1.61M and imports accounted up to $2.76M, resulting in a negative trade balance of $1.16M. Between October 2023 and October 2024 the exports of South Korea's Silk have decreased by $-535k (-25%) from $2.14M to $1.61M, while imports decreased by $-351k (-11.3%) from $3.11M to $2.76M.

Destinations In October 2024, Silk were exported mostly to United States ($865k), United Arab Emirates ($206k), Saudi Arabia ($161k), France ($93k), and Cambodia ($79k), and were imported mostly from China ($1.97M), Uzbekistan ($283k), Italy ($251k), Vietnam ($222k), and Japan ($19k).

Growth In October 2024, the decrease in Silk's year-by-year exports was explained primarily by a decrease in exports to United States ($-300k or -31%), United Arab Emirates ($-210k or -60.5%), and Colombia ($-180k or -91.8%). In October 2024, the decrease in Silk's year-by-year imports was explained primarily by a decrease in imports from Vietnam ($-86k or -38.6%), France ($-9k or -81.8%), and India ($-1k or -50%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (October 2023 - October 2024)$-535k(-25%)

IMPORT GROWTH (October 2023 - October 2024)$-351k(-11.3%)

MAIN DESTINATION (October 2024)United States$865k

This section shows Silk'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 Silk over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$29.6M

IMPORTS (2022)$39.6M

NET TRADE (2022)-$10M

In 2022, South Korea exported $29.6M in Silk. The main destinations of South Korea exports on Silk were United States ($15.4M), United Arab Emirates ($2.44M), Hong Kong ($1.72M), China ($1.67M), and Colombia ($749k).

In 2022, South Korea imported $39.6M in Silk, mainly from China ($33.5M), Italy ($2.28M), Vietnam ($1.63M), Uzbekistan ($1.4M), and India ($277k).

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