Service Industry and Retail Sales in 'Jeju and Daegu' Hit Hard by COVID-19

Statistics Korea, Service Industry Production and Retail Sales Trends by City and Province in Q1 2020

[Sejong=Asia Economy Reporter Joo Sang-don] Due to the spread of the novel coronavirus infection (COVID-19), service industry production in 14 cities and provinces excluding Seoul and Gyeonggi recorded a decline in the first quarter of this year. In particular, Jeju and Daegu experienced significant drops.

According to the '2020 1st Quarter City and Province Service Industry Production and Retail Sales Trends' announced by Statistics Korea on the 7th, nationwide service industry production decreased by 1.1% compared to the same period last year.

Service industry production increased by 2.3% in Seoul and remained flat in Gyeonggi, but declined in 14 cities and provinces (excluding Sejong). In Jeju, service industry production decreased overall by 10.3%, with declines in information and communications (-28.0%), accommodation and food services (-23.8%), wholesale and retail trade (-7.1%), arts, sports and leisure (-22.4%), and business facility management, business support and rental services (-11.9%). Daegu saw a 4.4% decrease due to reductions in accommodation and food services (-26.0%), transportation and warehousing (-23.8%), associations, repair and personal services (-25.3%), wholesale and retail trade (-4.9%), and education (-6.6%).

The decline in retail sales was even steeper. Similar to service industry production, Jeju experienced the largest decrease. Retail sales dropped by 14.8%, mainly due to decreases in duty-free shops (-47.0%) and specialty stores (-11.6%). This was followed by Daegu (-9.9%), Incheon (-9.1%), Seoul (-7.9%), Daejeon (-7.5%), and Busan (-6.5%). On the other hand, Jeonnam was the only region nationwide to see an increase in retail sales (3.9%).

This content was produced with the assistance of AI translation services.