Riding on the back of retail sales, the economy of South Korea is on the rise again.
But the decline of knitted/crocheted apparel, which began early 2005 continued through November also.
Imports of knitted/crocheted apparel totaled 59,262.5 tons in the January through November period, registering a decline of 23.7 percent compared to last year, same period.
China's share has been 56,262.2 tons, recording a steep fall of 23.9 percent. It however contributes 95 percent of total imports of South Korea.
Further, weakened imports of South Korea are due to decline in knitted/crocheted apparel exports, it is learnt.
Apparel imported into South Korea would be value added before exporting it, which has been the practice during the quota regime.
Now, in the post quota era, since January 1, 2005, there has been a gradual downtrend in this business.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
