South Korea's sawnwood imports have experienced noticeable fluctuations over the past decade. Starting at 1.6698 million cubic meters in 2013, imports saw a significant rise by 2017 before facing declines in the subsequent years. By 2023, imports stood at 2.3365 million cubic meters, marking a 3.31% increase from the previous year. Analyzing the trend, the compound annual growth rate (CAGR) between 2018 and 2023 is approximately 0.64%. Notably, the year 2020 marked a significant recovery with a 17.98% increase year-on-year. However, growth tempered in the following years with rises and falls, stabilizing around 2.3365 million cubic meters in 2023.
Forecast projections indicate a steady increase in sawnwood imports, with an anticipated growth to 2.5414 million cubic meters by 2028. The forecasted average annual growth rate over the next five years is approximately 1.33%, resulting in an overall forecasted growth of 6.86% from 2023 to 2028.
Future trends to watch for include potential impacts from global market fluctuations, shifts in South Korean construction and manufacturing sectors, and possible policy changes related to import tariffs and environmental regulations that could influence sawnwood demand and import volumes.
