The import of spectacle lenses of glass to South Korea has seen fluctuation over the years. Peak import values were recorded in 2014, after which there has been a general declining trend. As of 2023, the imports stood at 582.63 thousand US dollars. The year-on-year variation for 2023 shows a decrease of -1.89%. The five-year CAGR ending in 2023 was -3.31%, indicating an overall reduction in imports. Forecasted data suggests a continued decline with a forecasted five-year CAGR from 2024 to 2028 at -1.68%, leading to a growth rate decrease of -8.12% by 2028.
Future trends to watch for:
- Technological advancements in lens materials could impact glass lens import demands.
- Changes in domestic production capabilities might reduce reliance on imports.
- Global economic conditions and trade agreements may influence future import values.