Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea - 2022

Contents:

1. Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea (CIF) - 2022
2. Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea (FOB) - 2022
3. Imports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea
4. Exports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea

Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea (CIF) - 2022

In December 2022, the average import price for fabrics, woven; from strip or the like, of synthetic textile materialses amounted to $2.2 per square meter, picking up by 8% against the previous month. Overall, the import price, however, recorded a slight decline. The most prominent rate of growth was recorded in February 2022 an increase of 110% against the previous month. As a result, import price attained the peak level of $5.4 per square meter. From March 2022 to December 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was China ($2.1 per square meter), while the price for Vietnam amounted to $1.9 per square meter.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.2%), while the prices for the other major suppliers experienced a decline.

Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea (FOB) - 2022

In December 2022, the average export price for fabrics, woven; from strip or the like, of synthetic textile materialses amounted to $3.1 per square meter, picking up by 11% against the previous month. Over the period from January 2022 to December 2022, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in March 2022 an increase of 37% month-to-month. Over the period under review, the average export prices attained the maximum at $3.4 per square meter in June 2022; however, from July 2022 to December 2022, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($4.3 per square meter), while the average price for exports to China ($1.7 per square meter) was amongst the lowest.

From January 2022 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea

For the fourth year in a row, South Korea recorded growth in purchases abroad of fabrics, woven; from strip or the like, of synthetic textile materialses, which increased by 6.2% to 37M square meters in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its volume increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of fabrics, woven; from strip or the like, of synthetic textile materialses reached $13M in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +18.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Over the period under review, imports of fabrics, woven; from strip or like, of synthetic textile materialses attained the peak figure in 2022 and are expected to retain growth in the near future.

Top Suppliers of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials to South Korea in 2022:

1. China (28.3M square meters)
2. Vietnam (6.6M square meters)
3. Saudi Arabia (1.5M square meters)
4. India (0.5M square meters)
5. Belgium (0.5M square meters)

Exports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in South Korea

For the third year in a row, South Korea recorded decline in overseas shipments of fabrics, woven; from strip or the like, of synthetic textile materialses, which decreased by -13.4% to 35M square meters in 2022. Overall, exports faced a drastic downturn. The exports peaked at 55M square meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of fabrics, woven; from strip or the like, of synthetic textile materialses declined to $11M in 2022. Over the period under review, exports faced a abrupt shrinkage. The smallest decline of -5.4% was in 2020. Over the period under review, the exports of fabrics, woven; from strip or like, of synthetic textile materialses hit record highs at $15M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Top Export Markets for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials from South Korea in 2022:

1. China (10.0M square meters)
2. United States (7.9M square meters)
3. Vietnam (4.5M square meters)
4. Japan (4.2M square meters)
5. Indonesia (3.1M square meters)
6. Austria (1.8M square meters)
7. Colombia (1.0M square meters)
8. Bangladesh (0.3M square meters)

Source: IndexBox Market Intelligence Platform