In the first four months of this year, Korea's polyester fabric exports shrank more than 20 per cent compared to the same period last year according to the Korea Textile Trade Association.

Most significantly, exports to Mexico plummeted by 40.6 per cent due to low-priced products from China the Association said. Exports of polyester fabric to China fell 27.9 per cent, to Hong Kong dropped 25.5 per cent, and to the UAE were down 17.8 per cent.

In the export quota regions, Canada posted a 10.5 per cent drop, the United States an 8.3 per cent reduction, and the EU saw a 1.9 per cent fall.

Bucking these trends, polyester exports to Turkey  soared 23.8 per cent year-on-year.