The production of non-ferrous metals in South Korea has experienced fluctuations from 2013 to 2023, with notable variations. The production level in 2023 stands at 49.281 trillion South Korean Wons. Over the past two years, a steady increase was observed with a year-on-year growth of 2.32% in 2022 and 2.22% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years was 2.31%, indicating a moderate upward trend.
Looking forward to the future trends, the production is forecasted to grow at a CAGR of 1.69% over the next five years, reaching 54.868 trillion South Korean Wons by 2028. This growth reflects a steady but slower increase.
Future Trends to Watch For:
- Technological advancements and their impact on production efficiency.
- Global market demands and their influence on South Korean exports.
- Economic policies and regulations regarding non-ferrous metals in South Korea.
- Environmental considerations and sustainable practices in metal production.
