The New Land Of Textile Enterprises! China Imports The Most In This Country, And It Also Reduces The Cost Of Exporting To Europe And The United States.

Sino US trade friction is becoming more and more intense, and the dispute between Korea and Japan is increasing. Since the beginning of this year, a series of major changes have taken place in the world economic situation, which has cast a shadow over the world's economic and trade development, and has also brought unprecedented impact on the global textile trade. Despite the turmoil in the environment, the exchange of textile trade between China and South Korea has never been interrupted. Especially in the Sino US trade war, more and more Chinese textile enterprises are beginning to seek opportunities in South Korea.

Experience of Chinese textile enterprises entering Korea

At present, the global economic situation is worrying. Korean enterprises are also winning the fittest, and there are factories closing down. This has brought opportunities for similar enterprises in China.

South Korea is an important market of a well-known chemical fiber enterprise in Wujiang. The Minister of foreign trade analysis said that the overall market downturn and the number of brand manufacturers are decreasing. The Sino US trade friction has a great impact on garment enterprises and fabric enterprises, but it has little effect on the chemical fiber yarn enterprises. The main reason is that the European and American orders are transferring to Southeast Asia, while the Southeast Asian chemical fiber yarns need to be imported.

According to its introduction, the Korean market is relatively stable. The brand has already gained a high reputation in Korea. Although the product price is 10% higher than the market level, it is popular in the Korean market by virtue of its high quality.

Although the company's chemical fiber has been booming in the Korean market, more Chinese textile enterprises are still struggling to break through in the international environment. Especially for those enterprises with thin margins, after the United States imposed tariffs, exports to the United States were affected. Due to the recent dispute between Korea and Japan, the Korean market is also depressed, the market demand is not strong, and the consumption of products such as hemp and pure cotton is even decreasing.

In addition to the general trend, the textile industry of Southeast Asian countries such as India and Vietnam has developed very fast in recent years, especially the bed and clothing have been greatly improved, the delivery time and quality have been improved, and the impact on Chinese textile enterprises is obvious, resulting in the reduction of orders. The general manager of a printing and Dyeing Group in Shandong thinks that it is necessary to develop the blend and functional products and make differentiation to open the market. In addition, good products must be promoted actively, so the company actively participations in South Korea.

Suzhou import and export company is a Sino Korean cooperation company. There are cooperative factories in China, mainly functional shuttle fabrics and knitted fabrics. Sino US trade friction has little impact on the company's business. Its products are mainly exported to Vietnam, Indonesia and other Southeast Asian countries, as well as Korean brand customers. Pu Shihao, the head of the company, said that the market is not very good now, and the strategy of purchasing the big brands is also changing. Scattered orders have become more concentrated before, so it is necessary to establish good relations with the brand customers, try to contact the brands directly and reduce the middlemen.

South Korea's textile and apparel imports, China maintains its edge

Over the past ten years, the import volume of textiles and clothing in Korea has been increasing, and the export volume has not changed much in recent years. In 2018, the import and export of textiles and clothing in South Korea increased by two times, and the trade deficit continued to expand. Imports of textiles and clothing increased by US $16 billion 226 million, an increase of 12.11%, and exports of US $13 billion 571 million, an increase of 2.25%.

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.

According to Korean customs statistics, 1-6 months of this year, bilateral import and export volume between Korea and China was 119 billion 830 million US dollars, down 8.6%. Among them, South Korea exported $44 billion 90 million to China, down 13.7%, and Korea imported 54 billion 100 million dollars from China, an increase of 4.3%. China has continued to maintain its dominance in the import of labour intensive products such as textiles, raw materials and furniture in Korea, and China's main competitors are Vietnam, Indonesia and Japan.

Data show that the main importers of Korean textiles and clothing are China and Vietnam, and China is the largest source country of imports. In 2018, Korea accounted for 37% of China's imports, an increase of 6.91% over the same period last year, and the volume of imports from Vietnam increased by 23.25%. In addition to Vietnam, the volume of imports from South Korea, Indonesia, India and Burma also increased significantly last year.

Finally, it needs to be reminded that when developing the Korean market, China's textile and garment enterprises can make more use of Korea's bilateral bilateral trade agreements. South Korea is the most active and most successful country in the world in signing the free trade agreement (FTA) in the world. At present, South Korea has signed free trade agreements with more than 50 countries (regions), including the world's major economies such as the European Union, the United States, China and ASEAN. Chinese enterprises can use these FTA to reduce export costs to markets such as Europe and the United States, but pay attention to rules of origin.