Key Market Indicators
South Korea's electrical equipment exports are poised to reach $231 billion by 2026, up from $198 billion in 2021. That's an average increase of 2.6% year on year. Since 1993, Korean exports have grown 8.2% annually. Last year, South Korea was the second largest exporter, behind only China, which had exports worth $198 billion. The United States, Germany and South Korea placed second, third and fourth respectively. Meanwhile, imports of electrical equipment into South Korea are expected to reach $101 billion by 2026, up from $90 billion in 2021. That's an annual growth rate of 1.9%. Since 1993, Korean demand has grown 3.8% each year. In 2021, South Korea placed seventh in terms of imports, with Mexico coming in ahead at $90 billion. The United States, Germany and Singapore came in second, third and fourth in the ranking.