The export of electrical and electronic equipment from South Korea has shown variable trends from 2013 to 2023. The value stood at 211.27 billion US dollars in 2023, which marks a 3.19% increase from the previous year. Notably, the compound annual growth rate (CAGR) over the past five years is calculated at 2.8%, reflecting a consistent, albeit moderate, growth. From 2013 to 2017, the exports grew robustly, highlighted by a significant spike of 21.59% in 2017. However, 2020 experienced a sharp decline of 13.88% before bouncing back with a 24.76% increase in 2021.
Looking ahead to 2028, the export value is forecasted to reach 245.35 billion US dollars, with a forecasted 5-year CAGR of 2.35%, indicating a steady growth trajectory. Key trends to monitor in the future include advancements in semiconductor technology, increased global demand for smart devices, and the impact of geopolitical factors on trade policies. These variables will play critical roles in shaping the export landscape for South Korea’s electrical and electronic equipment.
