The import of silver ores and concentrates to South Korea in 2023 stood at 316.5 Million US Dollars. From 2024 onwards, the forecast indicates a consistent increase in value: 323.31 Million in 2024, 330.22 Million in 2025, 337.0 Million in 2026, 343.64 Million in 2027, and 350.15 Million in 2028.
- Year-on-Year variations reveal a steady growth in imports:
- 2024 to 2025: 2.1%
- 2025 to 2026: 2.1%
- 2026 to 2027: 2.0%
- 2027 to 2028: 1.9%
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 suggests an overall average annual growth of 2.0%.
Future trends to watch for include changes in global silver prices, trade policies, and advancements in South Korea’s industrial requirements for silver. These factors could influence the import dynamics significantly.
