Between 2013 and 2023, the export value of copper and articles thereof from South Korea experienced fluctuations, with occasional declines and notable increases. In 2023, the value stood at 5.2965 billion US dollars. The year 2016 witnessed the steepest decline at -13.16%, while 2021 showed a significant upturn with a year-on-year increase of 23.16%. Over the past five years, the Compound Annual Growth Rate (CAGR) averaged 1.55%. Looking ahead to the forecasted period from 2024 to 2028, the exports are anticipated to grow at a CAGR of 1.57%, culminating in an overall growth rate of 8.08% by 2028.
Future trends to watch for include:
- Technological advancements in copper processing which could reduce costs and enhance competitive positioning.
- Geopolitical and trade agreements that may impact tariff structures and export dynamics.
- Fluctuations in global copper prices and how they influence demand and supply.
- Environmental regulations and sustainability practices affecting the copper industry.
