Man-made staple fibres in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $1.68B in Man-made staple fibres, making it the 6th largest exporter of Man-made staple fibres in the world. At the same year, Man-made staple fibres was the 30th most exported product in South Korea. The main destination of Man-made staple fibres exports from South Korea are: Vietnam ($234M), United States ($184M), China ($148M), Turkey ($112M), and Indonesia ($95.4M).

The fastest growing export markets for Man-made staple fibres of South Korea between 2021 and 2022 were Turkey ($29.2M), Indonesia ($13.8M), and Saudi Arabia ($12.7M).

Imports In 2022, South Korea imported $703M in Man-made staple fibres, becoming the 16th largest importer of Man-made staple fibres in the world. At the same year, Man-made staple fibres was the 66th most imported product in South Korea. South Korea imports Man-made staple fibres primarily from: China ($305M), Indonesia ($114M), Vietnam ($86.1M), United States ($43.3M), and Austria ($28M).

The fastest growing import markets in Man-made staple fibres for South Korea between 2021 and 2022 were China ($25.9M), Belgium ($4.97M), and United States ($3.79M).

COMPANIES In 2023, leading companies such as ZF FRIEDRICHSHAFEN AG (66), LG ELECTRONICS USA (45), and GENERAL MOTORS LLC (15) were at the forefront of shipping Man-made staple fibres from South Korea to the United States.

Latest Trends

March 2024

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Overview In March 2024 South Korea's Man-made staple fibres exports accounted up to $98.7M and imports accounted up to $49.6M, resulting in a positive trade balance of $49.1M. Between March 2023 and March 2024 the exports of South Korea's Man-made staple fibres have decreased by $-26.2M (-20.9%) from $125M to $98.7M, while imports decreased by $-14M (-22%) from $63.5M to $49.6M.

Destinations In March 2024, Man-made staple fibres were exported mostly to United States ($16.5M), Vietnam ($10.1M), Turkey ($7.59M), China ($7.45M), and Italy ($5.32M), and were imported mostly from China ($22.3M), United States ($8.17M), Vietnam ($4.56M), Indonesia ($4.08M), and Japan ($3.11M).

Growth In March 2024, the decrease in Man-made staple fibres's year-by-year exports was explained primarily by a decrease in exports to United States ($-5.12M or -29.1%), Vietnam ($-4.61M or -27.3%), and China ($-3M or -28.8%). In March 2024, the decrease in Man-made staple fibres's year-by-year imports was explained primarily by a decrease in imports from China ($-10.8M or -32.3%), Vietnam ($-3.68M or -39.7%), and Indonesia ($-2.95M or -27.3%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-26.2M(-20.9%)

IMPORT GROWTH (March 2023 - March 2024)$-14M(-22%)

MAIN DESTINATION (March 2024)United States$16.5M

This section shows Man-made staple fibres'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 Man-made staple fibres over time.

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