Home / Knowledge / News / Textiles / China-Korea textile & apparel trade volume likely to go up
China-Korea textile & apparel trade volume likely to go up
21
Jul '14
The volume of textile and apparel trade between China and South Korea is expected to increase further, following the visit of Chinese President Xi Jinping to South Korea earlier this month.
 
Currently, China is South Korea’s largest trading partner, the largest export market, and the largest source of imports. In 2013, the bilateral trade volume between China and South Korea reached US$ 270 billion.
 
During their talks, President Xi Jinping and his South Korean counterpart Park Geun-hye set the goal of achieving the bilateral trade volume of $300 billion by 2015. Both the sides also agreed to increase efforts for completion of a free trade agreement (FTA) between the two before the end of the current year.
 
The increasing trade cooperation between China and Korea provides a good opportunity to increase the bilateral textile and garment trade volume between the two countries.
 
China’s exports of textiles and clothing to South Korea increased from $3.806 billion in 2003 to $6.789 billion in 2013.  Last year, China’s textiles and apparel exports to Korea increased by 16.6 percent year-on-year. Of this, clothing exports grew at 21.1 percent year-on-year to $3.95 billion.
 
On the other hand, China’s imports of textiles and garments from Korea are relatively stable. In 2013, imports decreased by 2.93 percent year-on-year to $2.447 billion.
 
As traditional textile and apparel producing countries, the textile and garment industry cooperation between South Korea and China in the future will be more diverse.
 

Fibre2fashion News Desk - India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search