Chinese products have advantages in 44 fields in South Korea, and the textile industry is obvious

Data map: Jiangxi International Linen Textile Expo attracts linen textile companies from Japan, South Korea, Egypt and other countries to participate in the exhibition. Photo by Xinhua News Agency reporter Zhou Mi

Korean media said that data show that Chinese products have an advantage over Korean products in about 55% of South Korea’s industrial sectors.

According to a Yonhap News Agency report on April 1, according to data from the Korea Institute of Industrial Economics and Trade, China has a higher revealed comparative advantage index in 44 fields among 80 major industries.

According to the report, revealed comparative advantage represents the competitiveness of a product or an industrial sector relative to other countries. A number greater than 1 indicates that a country sells more products in that country than in other countries.

China’s revealed comparative advantage index in most textile-related industries in South Korea is greater than 1, including leather, clothing and shoes.

The institute also said that the United States also has comparative advantages in 39 industrial areas, including agriculture.

Japan has stronger competitiveness in 34 fields, mainly chemical-related industries, but it has lost its advantage in home appliances.

“If South Korea wants to boost its own trade, it should improve its competitiveness relative to Japan in the chemical industry while promoting exports to China in textiles, petroleum, chemicals, steel, machinery, electronic products and automobiles,” the institute said.