Key Market Indicators
South Korea's electrical equipment exports are poised to reach $231 billion by 2026, up from $198 billion in 2021. That's an average increase of 2.6% year on year. Since 1993, Korean exports have grown 8.2% annually. Last year, South Korea was the second largest exporter, behind only China, which had exports worth $198 billion. The United States, Germany and South Korea placed second, third and fourth respectively. Meanwhile, imports of electrical equipment into South Korea are expected to reach $101 billion by 2026, up from $90 billion in 2021. That's an annual growth rate of 1.9%. Since 1993, Korean demand has grown 3.8% each year. In 2021, South Korea placed seventh in terms of imports, with Mexico coming in ahead at $90 billion. The United States, Germany and Singapore came in second, third and fourth in the ranking.
South Korea Electrical Equipment Market Data and Forecasts
How much will South Korea Electrical Equipment Market grow to 2026?
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