South Korea'S Textile Exports Resumed Growth After 10 Years
The Republic of Korea
Trade
A report released recently by the association shows that textile exports in South Korea have resumed growth since 10 years after 2001.
In the first half of this year, South Korea's exports increased by 22.2% over the same period last year, reaching US $8 billion 100 million.
Industry analysts believe that in 2011, South Korea's textile exports will hit a new high of 10 years, reaching 15 billion 900 million dollars.
This is mainly due to the steady increase in demand for fabrics and clothing in overseas markets.
Parker Jimmy, senior researcher at the Korea Trade Association, said: "the expected growth is mainly due to the revival of fabric demand and the higher proportion of fabric exports.
In addition, the global economy is steadily growing.
Warm up
The external environmental factors, such as the Korea Europe FTA agreement, will enter into force this month, and will also lead to a surge in textile orders. "
Parke suggested that South Korean operators should increase the research and development of industrial textiles because the industrial sectors in European countries are raising the demand for such high value-added products.
"Textiles are now widely used in automobiles, ships, electronics and various metal products industries."
She believes that this trend has attracted the attention of foreign investors and prompted the Korean government to increase its support for the overall textile industry.
It is understood that in 2001, South Korea's textile exports amounted to 16 billion 100 million US dollars, and the industry export volume in the past 10 years did not reach the highest export.
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