South Korea's apparel imports gain 5% to $907 mn in Nov 2024

In November 2024, South Korea imported knitted apparel and clothing accessories (Chapter 61) valued at $367.416 million, compared to $353.310 million during the same month in 2023. The import value of non-knitted apparel and clothing accessories (Chapter 62) was $540.102 million in November 2024, up from $509.307 million in November 2023. In October 2024, the country's imports amounted to $500.456 million (Chapter 61) and $836.967 million (Chapter 62).

From January to November 2024, South Korea's total apparel imports amounted to $11.430 billion, with Chapter 61 items accounting for $4.680 billion and Chapter 62 items for $6.750 billion. For the full year of 2023, the country imported apparel worth $11.991 billion, with Chapter 61 imports at $4.842 billion and Chapter 62 imports at $7.149 billion.

South Korea typically exports fabrics and textile materials while importing ready-made garments. In November 2024, the country exported man-made filaments, strips, and similar materials of man-made textiles (Chapter 54) worth $174.240 million and knitted or crocheted fabrics (Chapter 60) worth $147.504 million. In November 2023, these exports were valued at $182.331 million for Chapter 54 and $153.277 million for Chapter 60. In October 2024, the export values were $159.960 million and $135.890 million, respectively.

During January to November 2024, South Korea's exports under Chapter 54 reached $1,818.838 million, while exports under Chapter 60 totalled $1,573.771 million. In 2023, exports under Chapter 54 amounted to $2,107.283 million, and under Chapter 60 to $1,788.741 million.

ALCHEMPro News Desk (KUL)