Home breadcru News breadcru Trade breadcru  | Indonesia's apparel market share in South Korea declines despite FTA

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Indonesia's apparel market share in South Korea declines despite FTA

22 Jan '24
2 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • The FTA between South Korea and Indonesia, effective from January 1, 2023, has not significantly impacted South Korea's apparel imports from Indonesia.
  • Indonesia's share of South Korea's apparel imports slightly decreased to 4.**8 per cent in January-October 2023 from 4.**5 per cent in 2022.
  • South Korea's total apparel imports were $****.*** billion.

*.*pt"> The free trade agreement (FTA) between South Korea and Indonesia, which was implemented on January *, ****, has not yet significantly boosted South Korea&#**;s apparel imports from Indonesia. Despite the agreement, Indonesia&#**;s contribution to South Korea&#**;s total apparel imports witnessed a slight decline, dropping to *.** per cent in the period from January to October ****, compared to its *.** per cent share in ****

*.*pt"> South Korea imported total apparel worth $**.*** billion during the first ten months of ****. Of this, imports from Indonesia were valued at $***.*** million, accounting for just *.** per cent of the total, according to *f_homepage_tpblock&utm_medium=logo&utm_campaign=texpro_****" target="_blank">Fibre2Fashion&#**;s market insight tool TexPro. 

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