The Korea Federation of Textile Industries has reported that it only expects a slight increase in fabric exports over the year.

In its report, 2001 Prospects for Fabric Industries, the Federation predicted that fabric exports would increase by three percent from last years $18.5bn to $19bn.

The report also stated that imports would rise to $5.2bn, a 9.4 per cent increase on last years figure of $4.7bn.

Despite the increases in both exports and imports the federation reported that they did not expect to see any progress in the domestic market due to the downturn in the Korean market and the unstable employment levels.

The report also predicted that a rise in Internet shoppers and increased sales of luxury goods at department stores would increase the volume of the fashion market by a further 5.7 per cent on last years figure of $10.26bn.