Domestic Supply in Manufacturing Increased by 2% in Q1 This Year...Final Goods Up, Intermediate Goods Down

[Sejong=Asia Economy Reporter Joo Sang-don] Domestic supply in the manufacturing sector increased across the board in the first quarter of this year. While the supply of capital goods rose, intermediate goods declined.

According to the "2020 Q1 Manufacturing Domestic Supply Trends" released by Statistics Korea on the 8th, domestic supply in manufacturing increased by 2.0% year-on-year, with both domestic and imported goods rising. This marked the third consecutive quarter of growth since Q3 last year.

Consumer goods decreased by 2.5% due to declines in portable phones, frozen fish, and gasoline, but capital goods such as container ships, wafer processing equipment, and other semiconductor equipment increased by 24.9%, resulting in a 7.4% rise in final goods. Meanwhile, intermediate goods fell by 1.3% due to reductions in automobile parts, crude steel, and TV LCDs.

By industry, primary metals (-7.2%) decreased, while other transportation equipment (188.7%) and machinery equipment (4.6%) increased.

The import share of domestic supply in manufacturing was 27.0%, up 0.8 percentage points compared to the same period last year. The import share of final goods remained steady, while that of intermediate goods increased.

By industry, the import share rose in petroleum refining (10.9 percentage points), electronic products (4.4 percentage points), and machinery equipment (1.7 percentage points), but declined in other transportation equipment (19.5 percentage points).

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