The value added of clothing in South Korea stood at 6.5816 trillion South Korean Wons in 2023. The historical trend reveals a fluctuating pattern, with an overall decline from 6.9881 trillion in 2015. Notable year-on-year variations include -8.5% in 2017 and -0.35% in 2023. The CAGR over the last five years has averaged -0.51%, indicating a slight contraction in the sector. Forecast data suggest a continued downward trend with a forecasted 5-year CAGR of -0.29%, projecting a value of 6.4602 trillion in 2028.
Future trends to watch for include potential impacts from technological advancements, changes in consumer preferences towards sustainable fashion, and economic factors such as inflation and trade policies which may further influence the value added of clothing in South Korea.
