South Korea's arms exports in 2023 stood at 234.44 million USD (constant 1990). From 2024 to 2028, the data indicates a gradual decline with average year-on-year variations as follows: 2024 (-0.47%), 2025 (-0.47%), 2026 (-0.47%), 2027 (-0.46%), and 2028 (-0.46%). Over the last two years, South Korea has seen a steady decline in arms exports at a rate of approximately -0.47% annually. The CAGR over the last five years shows an average annual decline of -0.47%.
Future trends to watch for include global geopolitical shifts, changes in defense budgets of key importing countries, and potential advancements in defense technology that could either bolster or further decrease South Korea's arms export market.
