Republic of Korea: Women Hosiery Market 2024

Women Hosiery Market Size in Republic of Korea

The South Korean women hosiery market contracted modestly to $X in 2022, with a decrease of -2.7% against the previous year. Over the period under review, consumption recorded a slight expansion. Women hosiery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Women Hosiery Production in Republic of Korea

In value terms, women hosiery production dropped to $X in 2022 estimated in export price. In general, production saw a mild downturn. The pace of growth appeared the most rapid in 2017 when the production volume increased by 36%. Women hosiery production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Women Hosiery Exports

Exports from Republic of Korea

In 2022, approx. X pairs of socks, stockings and other women's hosiery were exported from South Korea; shrinking by -13.9% against the previous year. In general, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 20%. The exports peaked at X pairs in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, women hosiery exports fell to $X in 2022. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X pairs), China (X pairs) and Kyrgyzstan (X pairs) were the main destinations of women hosiery exports from South Korea, with a combined 77% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +10.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for socks, stockings and other women's hosiery exports from South Korea, comprising 63% of total exports. The second position in the ranking was held by China ($X), with a 6.4% share of total exports. It was followed by Kyrgyzstan, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+2.1% per year) and Kyrgyzstan (+11.1% per year).

Export Prices by Country

In 2022, the average women hosiery export price amounted to $X per pair, surging by 6.8% against the previous year. Over the period under review, the export price, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 25%. The export price peaked at $X per pair in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per pair), while the average price for exports to India ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Women Hosiery Imports

Imports into Republic of Korea

In 2022, approx. X pairs of socks, stockings and other women's hosiery were imported into South Korea; rising by 22% on the previous year. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 28% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, women hosiery imports soared to $X in 2022. Over the period under review, imports showed a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 53% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X pairs) constituted the largest women hosiery supplier to South Korea, with a 83% share of total imports. Moreover, women hosiery imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X pairs), tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+15.6% per year) and Thailand (+4.1% per year).

In value terms, China ($X) constituted the largest supplier of socks, stockings and other women's hosiery to South Korea, comprising 60% of total imports. The second position in the ranking was held by Vietnam ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+26.9% per year) and Thailand (+8.2% per year).

Import Prices by Country

In 2022, the average women hosiery import price amounted to $X per pair, dropping by -3.4% against the previous year. Overall, the import price, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2021 an increase of 30% against the previous year. As a result, import price attained the peak level of $X per pair, and then shrank modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per pair), while the price for China ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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