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.