Key Market Indicators
Korean exports of fishing equipment are expected to reach $105 million by 2026, slightly down from $111.7 million in 2021. This marks a 1% decrease year-on-year on a Compound Annual Growth Rate basis. Since 1993, Korean supplies have risen by 0.4% annually. In 2021, South Korea ranked 6th in this arena, with Singapore taking the lead at $111.7 million. Japan, the US, and Malaysia followed in 2nd, 3rd, and 4th place respectively. Korean imports of fishing equipment, meanwhile, are set to reach $211.6 million by 2026, a 3.1% increase year-on-year on a CAGR basis. Since 1993, Korean demand has risen by 11.8% each year. In 2021, Japan was top of the ranking at $175.2 million, with Japan, South Korea, and Singapore following in 2nd, 3rd and 4th place respectively.
