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2022
Exports $48.4MWorld Rnk 11 / 119
Flag Rnk 494 / 1204
2022
Destination $8.76M China
2021 - 2022
FASTEST GROWING MARKET $8.76MChina
2022
PRODUCT COMPLEXITY IN Textile Fiber Machinery1.53Rnk 47 / 1025
2022
Imports $13.5MWorld Rnk 28 / 178
Flag Rnk 895 / 1213
2022
Origin $3.83M Japan
2021 - 2022
FASTEST GROWING ORIGIN $3.83MJapan
2022
ECONOMIC COMPLEXITY of South Korea1.78Rnk 4 / 133

About

Exports In 2022, South Korea exported $48.4M in Textile Fiber Machinery, making it the 11th largest exporter of Textile Fiber Machinery in the world. At the same year, Textile Fiber Machinery was the 494th most exported product in South Korea. The main destination of Textile Fiber Machinery exports from South Korea are: China ($18.3M), India ($8.46M), Vietnam ($4.71M), United States ($1.83M), and Japan ($1.8M).

The fastest growing export markets for Textile Fiber Machinery of South Korea between 2021 and 2022 were China ($8.76M), India ($7.16M), and Ethiopia ($768k).

Imports In 2022, South Korea imported $13.5M in Textile Fiber Machinery, becoming the 28th largest importer of Textile Fiber Machinery in the world. At the same year, Textile Fiber Machinery was the 895th most imported product in South Korea. South Korea imports Textile Fiber Machinery primarily from: Japan ($4.15M), Germany ($3.93M), China ($1.9M), Switzerland ($957k), and Italy ($904k).

The fastest growing import markets in Textile Fiber Machinery for South Korea between 2021 and 2022 were Japan ($3.83M), Germany ($1.67M), and Switzerland ($791k).

Latest Trends

October 2024

About

Overview In October 2024 South Korea's Textile Fiber Machinery exports accounted up to $2.91M and imports accounted up to $209k, resulting in a positive trade balance of $2.7M. Between October 2023 and October 2024 the exports of South Korea's   Textile Fiber Machinery have increased by $466k (19.1%) from $2.44M to $2.91M, while imports decreased by $-322k (-60.6%) from $531k to $209k.

Destinations In October 2024, Textile Fiber Machinery were exported mostly to China ($1.34M), Thailand ($391k), Germany ($264k), Indonesia ($200k), and Vietnam ($192k), and were imported mostly from Italy ($86k), Germany ($55k), China ($36k), Chinese Taipei ($27k), and United Kingdom ($2k).

Growth In October 2024, the increase in Textile Fiber Machinery's year-by-year exports was explained primarily by an increase in exports to India ($75k or 134%). In October 2024, the decrease in Textile Fiber Machinery's year-by-year imports was explained primarily by a decrease in imports from Japan ($-38k or -97.4%) and China ($-18k or -54.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$466k(19.1%)
IMPORT GROWTH (October 2023 - October 2024)$-322k(-60.6%)
MAIN DESTINATION (October 2024)China$1.34M

This section shows Textile Fiber Machinery'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 Textile Fiber Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$48.4M
IMPORTS (2022)$13.5M
NET TRADE (2022)$35M

In 2022, South Korea exported $48.4M in Textile Fiber Machinery. The main destinations of South Korea exports on Textile Fiber Machinery were China ($18.3M), India ($8.46M), Vietnam ($4.71M), United States ($1.83M), and Japan ($1.8M).

In 2022, South Korea imported $13.5M in Textile Fiber Machinery, mainly from Japan ($4.15M), Germany ($3.93M), China ($1.9M), Switzerland ($957k), and Italy ($904k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Textile Fiber Machinery EXPORT MARKETS FOR South Korea WERE (2021 - 2022):
China$8.76M (91.7%)
India$7.16M (549%)
Ethiopia$768k (6.4M%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Textile Fiber Machinery BY South Korea WERE (2021 - 2022):
Turkey-$6.55M (-80.1%)
Brazil-$3.71M (-97.6%)
Vietnam-$3.55M (-42.9%)
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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 Textile Fiber Machinery were:
China $1.08B
Japan $807M
Germany $702M
In 2022, South Korea's main importing competitors in Textile Fiber Machinery were:
China $687M
Turkey $654M
India $547M

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Trade Value of Textile Fiber Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $5.52M
TOP IMPORT POTENTIALChina+ $2.18M

Textile Fiber Machinery’s highest export potential is China. With an export gap of $5.52M.   Textile Fiber Machinery’s highest import potential is China with an import gap of $2.18M.

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