The export value of knitted or crocheted fabric from South Korea experienced a fluctuating decline from 2013 to 2023, dropping from approximately $4.09 billion to $3.13 billion. The year-on-year variance indicated significant fluctuations with notable declines such as -17.29% in 2020 and a sharp recovery of 20.07% in 2021. The Compound Annual Growth Rate (CAGR) for the last five years shows an average variation of 0.072%. The forecast data indicates a gradual yet steady decline, reaching $3.08 billion in 2028, with a forecasted 5-year CAGR of -0.28% and an overall 5-year growth rate of -1.38%.
Future trends to watch for include:
- Global economic conditions impacting demand for textiles.
- Technological advancements in fabric manufacturing and alternative materials.
- Trade policies and agreements influencing export markets.
- Sustainability trends and their effects on consumer preferences.
