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In 2020, South Korea’s attire imports from Vietnam had decline by round 15 per cent to $3.065 billion as regular life and financial actions have been badly hit as a consequence of COVID-19. However the worth of imports bounced again to $3.294 billion in 2021, in accordance with Fibre2Fashion’s market perception device TexPro.
On a month-to-month foundation, South Korea’s attire imports from Vietnam remained unstable in latest months. They elevated to $486.928 million in September from $194.563 million in June 2022. However the cargo slowed all the way down to $237.695 million in November 2022.
South Korea’s attire imports from Vietnam in 2022 are prone to cross the pre-COVID stage. The nation has imported attire value $3.492 billion in first eleven months of final 12 months, whereas its inbound cargo in pre-COVID 12 months of 2019 was $3.572 billion. The nation had imported attire value $3.502 billion in 2018 and $2.827 billion in 2017.
On a quarterly foundation, the imports elevated to $1,261.045 million in Q3, 2022 towards $683.373 million in Q2, 2022, and $873.110 million in Q1, 2022.
Vietnam is an important provider of apparels for South Korea. The import from Vietnam was 30.99 per cent out of South Korea’s complete attire import of $11.266 billion in the course of the first eleven months of final 12 months, as per TexPro. China remained on the highest in suppliers’ listing with a share of 33.14 per cent. If Vietnam efficiently retains on rising its provides to South Korea, it might quickly take over China as the most important provider of clothes to the nation.
Fibre2Fashion Information Desk (KUL)
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