The export value of whiskies from South Korea has shown a fluctuating trend from 2013 to 2023, with a noticeable dip in 2020 followed by a recovery phase. In 2023, the value stood at 7.8073 million USD. The year-on-year change for 2023 was minor at 0.34%, following a modest rise in 2022 of 0.35%. The recent five-year CAGR (2018-2023) indicates a slight upward trend at a rate of 1.03% per year.
Looking ahead, the forecast suggests a gradual increase in export values, with a projected average annual growth rate (CAGR) of 0.28% over the next five years. By 2028, the export value is expected to reach 7.9468 million USD, reflecting modest but steady growth.
Future trends to watch for:
- Global demand for premium and craft whiskies may impact South Korean exports positively.
- Trade policies and international relations that could influence export opportunities and challenges.
- Economic conditions in key markets such as the USA, China, and Europe.
- Potential growth in e-commerce and digital marketing strategies enhancing market reach.