The import of yarn of combed wool to South Korea is forecasted to increase steadily from 2024 to 2028. The import value in 2023 stood at 29.773 million USD. From 2024 onwards, the import value is expected to grow incrementally each year, with a year-on-year variation of approximately 1.64% for 2025, 1.58% for 2026, 1.52% for 2027, and 1.47% for 2028. The compound annual growth rate (CAGR) over the last five years, including the actual data from 2023, is projected to be around 1.66%.
Future trends to watch for include:
- Potential changes in global wool production impacting supply chains.
- Shifts in South Korean demand driven by fashion industry trends and consumer preferences.
- Economic factors such as trade policies and currency fluctuations that could affect import prices and volumes.
- Technological advancements in textile manufacturing that could alter demand for different types of yarns.