Forecast: Share of Transport Services in Commercial Service Imports in South Korea

From 2013 to 2023, the share of transport services in South Korea's commercial service imports has shown a general downward trend, marked by fluctuations. In 2023, it stood at 23.79, reflecting a notable decline from its peak value in 2013. The year-on-year variations exhibited significant shifts: after a marked drop of 9.12% in 2023, the compound annual growth rate (CAGR) over the last five years indicates a minor positive trend at 0.52%. This points to a short-term recovery phase followed by a slight dip.

Projections from 2024 onwards suggest a steady decline, with the share estimated to decrease to 21.34 by 2028. The forecasted five-year CAGR is -1.74%, amounting to an overall reduction of 8.38% over this period.

Future trends to watch for include:

  • Impact of technological advancements in transport and logistics on service imports.
  • Changes in global trade dynamics and their influence on South Korea's import structure.
  • Developments in alternative transport modalities and their adoption rates.

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