Apparel export to South Korea registered an impressive growth in 2022, reaching $59.451 million from $39.002 million in 2021. The shipment was recorded at $54.132 million in 2018 which reduced to $49.749 million in 2019 and $38.644 million in 2020, as per data obtained from Fibre2Fashion’s market insight tool TexPro.
However, the outbound shipment of fabric and yarn from India to South Korea has noticed a declining trend in the last year. According to TexPro, India's fabric exports to South Korea decreased to $131.948 million in 2022 from $153.951 million in 2021, noted at $122.001 million in 2018. Although it gained to $121.295 million in 2020 and $153.951 million in 2021, the trade eased to $109.714 million in 2019. India imports fabric from South Korea in limited quantity, with imports increasing to $37.135 million in 2022 compared to $34.266 million in 2021.
India's yarn exports were worth $133.765 million in 2022, lower than the shipment of $184.032 million in 2021. The outbound shipment to South Korea peaked at $224.651 million in 2018 but slipped to $172.342 million in 2019 and $130.980 million in 2020. However, yarn imports from South Korea increased post-COVID, jumping to $74.622 million in 2021 from $36.793 million in 2020. Yarn imports decreased to $65.652 million in 2022, according to TexPro.
ALCHEMPro News Desk (KUL)
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