Korea’s trade deficit continued to expand in 2018. In 2018 import value of textiles and apparel into Korea was up by 12.11 per cent and export value was up by 2.25 per cent. Trade between Korea and Vietnam increased but the import and export textile and apparel share of China dropped.

Textile and apparel exports of Korea are dominated by 60 codes (knitted or crocheted fabrics), 54 codes (manmade filaments) and 55 codes (manmade staple fiber). In 2018, export value of 60 codes (knitted or crocheted fabrics) fell 4.12 per cent year on year. Export value of most major export varieties increased, and export of 55 codes (manmade staple fiber) moved up by 15.97 per cent.

Korea’s export volume to Vietnam increased 3.9 per cent year on year and to the US moved up by 11.25 per cent. As for Korea’s imports of textile and apparel, China was the largest source of imports, accounting for 37 per cent, up by 6.91 per cent year on year. Vietnam’s share increased 23.25 per cent. The share of Indonesia, India, Myanmar and other countries also moved up. China’s market share has been decreasing year on year, while that of India and some Southeast Asian countries such as Vietnam is growing rapidly.