Honam Region, Employment Rate Increased in Q4 Last Year and Net Population Outflow Continues

Honam Statistics Office Announces 'Regional Economic Trends'

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] In the fourth quarter of last year, the Honam region experienced a continuous decline in manufacturing production and exports for four consecutive quarters, while construction orders turned to an increase, and the employment rate rose, but net population outflow continued.

According to the '2019 4th Quarter Regional Economic Trends' data released by the Honam Regional Statistics Office on the 21st, manufacturing production in the Honam region decreased by 1.2% compared to the same quarter of the previous year due to sluggishness in automobiles and other sectors, marking a decline for four consecutive quarters.

Jeonnam increased by 4.5%, whereas Gwangju (-8.0%) and Jeonbuk (-5.8%) decreased.

Construction orders increased by 75.5% in building and 3.2% in civil engineering, resulting in a 38.3% increase compared to the same quarter of the previous year, turning to an increase.

Gwangju (111.6%), Jeonnam (32.0%), and Jeonbuk (10.4%) all showed increases.

Exports decreased by 15.4% compared to the same quarter of the previous year due to a decline in shipbuilding and others, marking a decrease for four consecutive quarters. The figures were Gwangju (-16.4%), Jeonnam (-14.9%), and Jeonbuk (-15.7%).

The employment rate increased among those aged 60 and over and those in their 20s. Gwangju (0.3%p), Jeonnam (1.0%p), and Jeonbuk (1.0%p) all rose, resulting in a 0.8%p increase compared to the same quarter of the previous year.

Regarding population, Jeonnam (4,503 people) experienced net inflow, whereas Gwangju (-3,204 people) and Jeonbuk (-2,483 people) experienced net outflow.

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