Double Growth Of Import And Export Of Textiles And Clothing In 2018

In 2018, the import and export of textiles and clothing in South Korea increased by two times, and the trade deficit continued to expand.

As can be seen from the above picture, imports and exports of textiles and clothing in South Korea have been increasing in the past ten years, and export volume has not changed much in recent years, compared with five years ago.

In 2018, South Korea imported $16 billion 226 million of textiles and clothing, an increase of 12.11%, an export of $13 billion 571 million, an increase of 2.25%.

South Korean textile and clothing exports are still dominated by 60 (knitted and crochet knitted fabrics), 54 (chemical fiber filament, chemical fiber textile materials made of flat strips and similar products) and 55 (chemical fiber staple), and from the change of volume, 60 (knitted goods and crochet knitted fabrics) exports have declined, a decrease of 4.12% compared with the same period last year. The export volume of the remaining majority of the main export varieties has increased, while the 55 coded (chemical fiber staple) exports have increased significantly, with an increase of 15.97%.

From the point of view of exporting countries and regions, the main export countries of Korean textiles and clothing in 2018 were still significantly increased for Vietnam, China and the United States, and the volume of exports to Vietnam and the United States increased significantly. The volume of exports to Vietnam increased by 3.9% compared to the same period last year, and the volume of exports to the United States increased by 11.25%.

South Korea's textile and apparel imports were mainly made up of finished garments, accounting for about 62%, followed by cotton products.

In 2018, the export volume of various kinds of textiles and garments imported from South Korea increased, and the increase was obvious.

62 of imports (non knitted or non Crocheted garments and accessories) and 61 (knitted or crocheted garments and accessories) increased by 15.47% and 16.23% respectively.

From the point of view of importing countries and regions, the main importers of Korean textiles and clothing are China and Vietnam, and China is the largest source of imports. In 2018, Korea imported 37% of China, an increase of 6.91% compared to the same period last year, and the volume of imports from Vietnam increased by 23.25%. Besides Vietnam, we found that the volume of imports from Indonesia to India, Burma and other countries also increased significantly.

In recent years, China's share in the global textile and garment export market has declined year by year, while India and some Southeast Asian countries such as Vietnam have developed rapidly. The trend of South Korea's import of textiles and clothing is no exception.