South Korea's apparel imports rise to $1.02 bn in July 2024

The country imported knitted apparel and clothing accessories (Chapter 61) worth $445.049 million in July 2024, compared to $400.336 million during the same period last year. The inbound shipment of non-knitted apparel and clothing accessories (Chapter 62) was valued at $575.088 million in July 2024, slightly lower than the $597.376 million recorded in July 2023. South Korea’s imports were noted as $304.664 million (Chapter 61) and $432.428 million (Chapter 62) in June 2024.

South Korea’s apparel imports totalled $6.551 billion during the period January-July 2024, with imports under Chapter 61 accounting for $2.746 billion and Chapter 62 for $3.805 billion. The country imported apparel worth $11.991 billion during the year 2023, with imports under Chapter 61 at $4.842 billion and Chapter 62 at $7.149 billion.

The country primarily exports fabrics and textile materials and imports readymade garments. In July 2024, it exported man-made filaments; strip and similar materials of man-made textiles (Chapter 54) worth $171.041 million, and knitted or crocheted fabric (Chapter 60) worth $142.246 million. The outbound shipment values in July 2023 were $158.763 million for Chapter 54 and $134.383 million for Chapter 60. In June 2024, the trade values were $166.094 million and $147.969 million, respectively.

During January-July 2024, exports under Chapter 54 amounted to $1,206.442 million, and under Chapter 60 to $1,037.675 million. In 2023, South Korea’s exports under Chapter 54 were recorded at $2,107.283 million, and under Chapter 60 at $1,788.741 million.

ALCHEMPro News Desk (KUL)