South Korea's apparel imports surge 5.8% to $1.31 bn in Sept 2024

In September 2024, South Korea imported knitted apparel and clothing accessories (Chapter 61) valued at $549.743 million, compared to $504.714 million during the same period in 2023. The import value of non-knitted apparel and clothing accessories (Chapter 62) was $837.904 million in September 2024, up from $806.209 million in September 2023. In August 2024, the country’s imports amounted to $516.522 million (Chapter 61) and $728.614 million (Chapter 62).

From January to September 2024, South Korea’s total apparel imports amounted to $9.184 billion, with Chapter 61 items accounting for $3.812 billion and Chapter 62 items for $5.372 billion. For the entirety 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 September 2024, the country exported man-made filaments, strips, and similar materials of man-made textiles (Chapter 54) worth $145.389 million and knitted or crocheted fabric (Chapter 60) worth $124.402 million. In September 2023, these exports were valued at $154.513 million for Chapter 54 and $144.801 million for Chapter 60. In August 2024, the export values were $133.395 million and $128.846 million, respectively.

During the January to September 2024 period, South Korea’s exports under Chapter 54 reached $1,484.837 million, while exports under Chapter 60 totalled $1,290.626 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)