Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea - 2022
Contents:
- Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea (CIF) - 2022
- Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea (FOB) - 2022
- Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea
- Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea
Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea (CIF) - 2022
The average import price for articles of apparel and clothing accessories, of leather or of composition leather stood at $33.5 per unit in December 2022, which is down by -3.5% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in February 2022 an increase of 45% m-o-m. As a result, import price reached the peak level of $45.5 per unit. From March 2022 to December 2022, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($305 per unit), while the price for Bangladesh ($3.4 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea (FOB) - 2022
In 2022, the average export price for articles of apparel and clothing accessories, of leather or of composition leather amounted to $80 per unit, increasing by 16% against the previous year. Over the period under review, the export price continues to indicate strong growth. The growth pace was the most rapid in 2020 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($213 per unit), while the average price for exports to Myanmar ($4.4 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea
Imports of articles of apparel and clothing accessories, of leather or of composition leather into South Korea surged to 7.9M units in 2022, rising by 26% on 2021. The total import volume increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of articles of apparel and clothing accessories, of leather or of composition leather skyrocketed to $244M in 2022. The total import value increased at an average annual rate of +10.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 60.9 | 67.0 | 74.6 | 81.1 | 10.0% |
| China | 45.9 | 37.7 | 40.9 | 58.3 | 8.3% |
| Indonesia | 16.5 | 20.6 | 24.0 | 29.8 | 21.8% |
| Vietnam | 8.1 | 7.4 | 9.1 | 12.1 | 14.3% |
| India | 8.3 | 8.1 | 8.0 | 10.8 | 9.2% |
| Pakistan | 1.6 | 1.6 | 2.2 | 2.9 | 21.9% |
| Bangladesh | 0.9 | 0.6 | 1.4 | 1.6 | 21.1% |
| Others | 41.3 | 41.3 | 42.1 | 47.3 | 4.6% |
| Total | 183 | 184 | 202 | 244 | 10.1% |
Top Suppliers of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather to South Korea in 2022:
- China (3827.0K units)
- Bangladesh (1617.8K units)
- Vietnam (814.2K units)
- Indonesia (634.8K units)
- India (338.5K units)
- Italy (262.9K units)
- Pakistan (182.6K units)
Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea
Exports of articles of apparel and clothing accessories, of leather or of composition leather from South Korea stood at 422K units in 2022, picking up by 2.8% compared with the previous year. In general, exports, however, continue to indicate a pronounced downturn. The exports peaked at 490K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, exports of articles of apparel and clothing accessories, of leather or of composition leather soared to $34M in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +18.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.1 | 6.6 | 11.5 | 18.3 | 44.2% |
| Canada | 0.3 | 2.2 | 3.2 | 5.1 | 157.1% |
| Japan | 6.1 | 4.9 | 2.9 | 2.4 | -26.7% |
| China | 1.4 | 1.7 | 3.7 | 2.1 | 14.5% |
| Hong Kong SAR | 1.2 | 1.0 | 2.9 | 1.8 | 14.5% |
| Taiwan (Chinese) | 0.7 | 1.2 | 0.6 | 0.5 | -10.6% |
| Mongolia | N/A | N/A | 0.1 | 0.3 | 200.0% |
| Vietnam | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| United Arab Emirates | 0.2 | 0.2 | 0.1 | 0.1 | -20.6% |
| Myanmar | 0.4 | 0.9 | 0.6 | N/A | 22.5% |
| Iraq | 0.1 | N/A | N/A | N/A | 0% |
| Others | 3.9 | 3.1 | 2.9 | 3.3 | -5.4% |
| Total | 20.5 | 21.8 | 28.6 | 34.0 | 18.4% |
Top Export Markets for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather from South Korea in 2022:
- United States (161.1K units)
- Japan (47.6K units)
- Mongolia (45.9K units)
- Canada (43.9K units)
- China (36.9K units)
- Vietnam (9.7K units)
- United Arab Emirates (9.4K units)
- Taiwan (Chinese) (8.6K units)
- Hong Kong SAR (8.2K units)
- Iraq (2.3K units)
- Myanmar (1.7K units)
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