South Korea's import of copper ores and concentrates has varied over the past decade. In 2023, the import volume was 1.9087 billion kilograms. Between 2022 and 2023, the import volume grew by 1.38%. Over the last two years, the growth rate averaged 11.38%. The five-year CAGR, however, shows a more moderate annual increase of 2.56%, indicative of fluctuating but generally growing imports.
Looking forward, forecasts indicate continued growth. By 2028, imports are projected to reach 2.0439 billion kilograms. The expected five-year CAGR from 2024 to 2028 is 1.08%, showing a relatively steady increase. Key trends to watch include global copper demand, prices, and South Korea's industrial consumption patterns, which will impact import volumes.
