The value added of transportation and storage in South Korea showed fluctuations from 2015 to 2023. In 2023, it stood at 60.465 trillion South Korean Wons. From 2015 to 2019, the value saw a general increase with minor oscillations, reaching a peak in 2019 before experiencing a drastic drop in 2020 due to the global pandemic. The market rebounded in 2021 and continued to recover steadily, with a notable year-on-year increase of 0.23% in 2023. The CAGR over the last 5 years was -0.092%, reflective of the 2020 downturn.
Future trends to watch for include:
- Technological advancements in logistics and supply chain management which could lead to efficiency gains.
- Increased investment in infrastructure and smart transportation systems.
- Potential impact of global trade policies and economic conditions on the transportation sector.
- Environmental regulations and the shift towards sustainable transportation methods.
Latest reports
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