The import of copper mattes and cement copper to South Korea has shown significant fluctuations in the past decade. From 2013 to 2023, imports rose from $63.217 million to $188.26 million, highlighting a general upward trend punctuated by variances such as a sharp drop in 2016 (-36.92%) and modest gains or losses in subsequent years. As of 2023, the value stands at $188.26 million. The year-on-year growth rate for 2023 was 4.08%, while the compound annual growth rate (CAGR) over the past five years is 3.83%.
Key trends include:
- 2013-2015: Strong growth momentum, leading to a peak in 2015.
- 2016: Significant decline (-36.92%).
- 2017-2019: Recovery and stabilization with moderate growth rates.
- 2020: Another decline (-12.88%).
- 2021-2023: Steady growth, indicating a robust recovery period.
Looking ahead, forecasted data from 2024 to 2028 projects a slower, yet steady growth rate with a forecasted 5-year CAGR of 2.92%, culminating in a value of $226.77 million in 2028. Future trends to watch include market volatility, potential impacts of global economic conditions, and changes in trade policies which may influence import patterns.
