Situation of South Korea textile in China

Situation of South Korea textile in China

The trade deficit with South Korea China's textile and apparel reached $ 1.43 billion during the first five months of this year mainly due to the influx of cheap products, a report showed Sunday. In the period January-May, South Korea imported goods worth $ 2.47 billion, and shipped a $ 1.04 billion over the clothing and textiles, the report of the Korea Institute of Economics industrial and Trade (KIET) said. The size of the deficit is equal to 39.8 percent of the deficit $ 3.59 billion reported for the whole of last year when the country imported Chinese products worth $ 6.32 billion. Since 2002, South Korea ecommerce has a trade deficit with its neighbor. KIET said that the chronic trade imbalance comes from cheap Chinese goods regular forays into the local market and movements by South Korean garment manufacturers set up operations in China in the past, the transfer of their production centers to the South-East.

Transformed into clothing

These developments have reduced deliveries son, textiles and semi-finished products in China. Once transformed into clothing, these products have been shipped to other countries. The changes also caused Vietnam to emerge as No. 1 export market for South Korea for textiles. Until May of this year, the South East Asian market accounted for 16.5 percent of total textile exports, exceeding 15.6 percent of China. This is the first time Vietnam has usurped its larger neighbor to become the largest export destination for South Korean textiles.

see also http://daxueconsulting.com/the-electronic-component-market-in-china/