Republic of Korea: Cotton Fabric Market 2025

Cotton Fabric Market Size in Republic of Korea

In 2021, after three years of decline, there was significant growth in the South Korean cotton fabric market, when its value increased by 30% to $X. Overall, consumption, however, continues to indicate a abrupt decline. Cotton fabric consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Cotton Fabric Production in Republic of Korea

In value terms, cotton fabric production surged to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a sharp curtailment. Cotton fabric production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Cotton Fabric Exports

Exports from Republic of Korea

In 2021, shipments abroad of woven fabrics of cotton increased by 4.4% to X tons, rising for the second year in a row after five years of decline. Overall, exports, however, saw a perceptible setback. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, cotton fabric exports rose rapidly to $X in 2021. In general, exports, however, continue to indicate a noticeable shrinkage. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for cotton fabric exports from South Korea, with a 41% share of total exports. Moreover, cotton fabric exports to the United States exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. China (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-3.7% per year) and China (-16.6% per year).

In value terms, the United States ($X) remains the key foreign market for woven fabrics of cotton exports from South Korea, comprising 45% of total exports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total exports. It was followed by China, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+0.6% per year) and China (-13.7% per year).

Export Prices by Country

In 2021, the average cotton fabric export price amounted to $X per ton, surging by 5.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2020 an increase of 6.3% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Fabric Imports

Imports into Republic of Korea

In 2021, imports of woven fabrics of cotton into South Korea was estimated at X tons, increasing by 2.2% compared with the previous year. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 22% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, cotton fabric imports soared to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and Pakistan (X tons) were the main suppliers of cotton fabric imports to South Korea, together accounting for 92% of total imports. Vietnam, Thailand and Uzbekistan lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uzbekistan (with a CAGR of +43.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton fabric suppliers to South Korea were China ($X), India ($X) and Pakistan ($X), together accounting for 80% of total imports. These countries were followed by Vietnam, Thailand and Uzbekistan, which together accounted for a further 7.4%.

Uzbekistan, with a CAGR of +34.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cotton fabric import price stood at $X per ton in 2021, with an increase of 20% against the previous year. In general, the import price, however, showed a noticeable contraction. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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