Knit Men's Suits in South Korea | The Observatory of Economic Complexity

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Exports In 2022, South Korea exported $53.2M in Knit Men's Suits, making it the 35th largest exporter of Knit Men's Suits in the world. At the same year, Knit Men's Suits was the 474th most exported product in South Korea. The main destination of Knit Men's Suits exports from South Korea are: Japan ($38.4M), United States ($4.77M), Vietnam ($3.05M), China ($2.01M), and Hong Kong ($1.19M).

The fastest growing export markets for Knit Men's Suits of South Korea between 2021 and 2022 were Vietnam ($2.08M), United States ($1.43M), and Chinese Taipei ($333k).

Imports In 2022, South Korea imported $341M in Knit Men's Suits, becoming the 13th largest importer of Knit Men's Suits in the world. At the same year, Knit Men's Suits was the 249th most imported product in South Korea. South Korea imports Knit Men's Suits primarily from: China ($139M), Vietnam ($95.9M), Bangladesh ($15.8M), Indonesia ($14M), and Cambodia ($12.7M).

The fastest growing import markets in Knit Men's Suits for South Korea between 2021 and 2022 were Vietnam ($6.12M), Burma ($4.22M), and Pakistan ($3.33M).

COMPANIES In 2023, leading companies such as STELFAST INC (22) and LG ELECTRONICS USA (3) were at the forefront of shipping Knit Men's Suits from South Korea to the United States.

Latest Trends

March 2024

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Overview In March 2024 South Korea's Knit Men's Suits exports accounted up to $864k and imports accounted up to $20.3M, resulting in a negative trade balance of $19.4M. Between March 2023 and March 2024 the exports of South Korea's Knit Men's Suits have decreased by $-315k (-26.7%) from $1.18M to $864k, while imports decreased by $-3.57M (-15%) from $23.8M to $20.3M.

Destinations In March 2024, Knit Men's Suits were exported mostly to China ($401k), Hong Kong ($160k), Japan ($60k), United States ($47k), and Vietnam ($42k), and were imported mostly from China ($6.88M), Vietnam ($5.57M), Indonesia ($1.79M), Burma ($1.24M), and Cambodia ($811k).

Growth In March 2024, the decrease in Knit Men's Suits's year-by-year exports was explained primarily by a decrease in exports to Japan ($-3.05M or -83.5%), Vietnam ($-385k or -99%), and United States ($-231k or -69.6%). In March 2024, the decrease in Knit Men's Suits's year-by-year imports was explained primarily by a decrease in imports from China ($-2.29M or -23.3%), Vietnam ($-1.98M or -15.9%), and Indonesia ($-653k or -38.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (March 2023 - March 2024)$-315k(-26.7%)

IMPORT GROWTH (March 2023 - March 2024)$-3.57M(-15%)

MAIN DESTINATION (March 2024)China$401k

This section shows Knit Men's Suits'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 Knit Men's Suits over time.

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