South Korea'S Current Trade Deficit With China'S Clothing And Textile Industry For 12 Consecutive Years

< p > > a href= "http:// www.sjfzxm.com/news/index_c.asp" > Korea < /a > Industry Research Institute and Korea Trade Association 29, said that in 2013, Korea exported 2 billion 730 million dollars to China's textiles and clothing, with an import volume of 6 billion 320 million dollars and a deficit of 3 billion 590 million US dollars.

In 2002, after the first deficit of $410 million in textiles and clothing trade between China and South Korea, the deficit trend lasted for 12 years.

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< p > the deficit scale of South Korea in China's textiles and < a href= "http:// www.sjfzxm.com/news/index_c.asp" > clothing trade < /a > has exceeded 2 billion US dollars in the middle of 2000s, and increased to 2 billion 630 million, 3 billion 540 million and 3 billion 110 million US dollars from 2010 to 2012 respectively.

In the first 5 months of this year, South Korea's exports to China amounted to US $1 billion 40 million, with an import volume of US $2 billion 470 million and a deficit of US $1 billion 430 million.

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< p > The Research Institute believes that China's labor costs are rising and relatively cheap Chinese clothing is flowing into Korea. Under these two factors, South Korea has an unfavorable balance between China's textile and clothing trade.

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< p > in particular, due to the rapid rise of labor costs in China, South Korea's related enterprises have moved their factories in China to Southeast Asia, resulting in a sharp reduction in the export scale of Korean textiles and clothing related materials to China, which has led to the shrinking of the overall export volume of textiles and clothing.

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< p > > The Research Institute said that < a href= "http:// www.sjfzxm.com/news/index_c.asp" > China's market < /a > great potential for development. It is suggested that Korean enterprises should get rid of the export mode based on textile materials, and develop a garment oriented export expansion program. In particular, we need to actively utilize Korean elements such as Korean dramas and K-pop to carry out garment marketing so as to lay a solid foundation for entering the Chinese garment market.

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< p > it is reported that the Burma garment industry association has revealed that the foreign-funded enterprises such as GAP, a large garment enterprise in the United States, entered Burma in the financial year, which contributed to the expected export volume of Burma garment exports in the financial year, reaching US $1 billion 500 million.

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< p > News indicates that the orders received by Burma garment enterprises this year come from Korea, Japan, the United States and Europe, and the textile industry has a bright future.

However, the development of garment industry in Burma is still facing many obstacles, including poor infrastructure, difficult port clearance and inconvenient pportation and so on.

From 2013 to 14, Burma's clothing exports reached a record of 1 billion 100 million US dollars in the fiscal year.

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