South Korean battery exports are expected to grow at a 33 percent annual rate until 2030, boosting the country's GDP growth by 0.3 percent, according to a Goldman Sachs report released Monday.

According to the global investment bank, global sales of Korean battery manufacturers are expected to increase by an average of 43 percent during the cited period.

According to the report, the country's rapid expansion of its EV supply chain will have a positive impact on macroeconomic indicators such as GDP growth rate and won-foreign currency exchange rate.

"It will bring production increases (in) Korea-made batteries, which could ramp up the country's real GDP growth rate to 0.3 percent annually for the next five years," according to the most recent report on Korea's EV market.

The increase in battery production is expected to raise Korea's annual export and import growth rates to 2.5 percent and 1.4 percent, respectively, improving the country's current account balance.

"With production ramp-ups in the US and Europe, technological advancement, and US tax credits, Korean battery makers have the upper hand to benefit from the burgeoning demand for electric vehicles in regions other than China," according to the report.

By 2030, the US and Europe will see annual demand growth of 33% and 28%, respectively, driven by rapidly growing global demand for rechargeable batteries.

Goldman Sachs also predicts that battery demand in China, the world's largest market for clean cars, will grow at a rather slow 11 percent per year due to already high demand.

"Rising demand for batteries in the United States and Europe will be met by regions other than China," it said, emphasising that Korean battery manufacturers are expected to see an increase in global business.