Domestic Supply in Manufacturing Up 1.7% in Q1... Import Share at 30.8%

Statistics Korea Q1 Domestic Supply Trends in Manufacturing Industry

(Data provided by Statistics Korea)

Domestic supply in the manufacturing sector increased by 1.7% year-on-year in the first quarter, but the growth rate narrowed. This was due to an increase in imports centered on electronic products and electrical equipment, while domestic products decreased.

The proportion of imports in domestic supply in manufacturing rose to a record high of 30.8%.

According to the manufacturing domestic supply trend for the first quarter of this year announced by Statistics Korea on the 10th, the manufacturing domestic supply index for the first quarter was 107.4 (2015=100), up 1.7% compared to the same period last year. It showed an upward trend for five consecutive quarters since the first quarter of last year, but the increase was slower than the 3.4% growth in the same period last year.

Final goods domestic supply in the first quarter increased by 2.9% for consumer goods but decreased by 5.8% for capital goods, resulting in a 0.6% decline compared to the same period last year. Consumer goods domestic supply remained flat for domestic products, while imports increased by 11.0%. Capital goods domestic supply decreased for both domestic (-3.2%) and imported (-9.6%) products.

Intermediate goods domestic supply increased by 3.1% due to a rise in imports (16.3%) despite a decrease in domestic products (-1.5%).

By industry, electronic products increased by 13.0% with both domestic (2.7%) and imported (18.8%) products rising, and electrical equipment also expanded by 7.4% with increases in both domestic (3.1%) and imported (19.1%) products.

In particular, pharmaceuticals grew by 20.0% with increases in domestic (16.5%) and imported (26.7%) products. On the other hand, metal processing declined by 9.2% with decreases in both domestic (-10.1%) and imported (-0.2%) products.

The proportion of imports in manufacturing domestic supply in the first quarter rose by 2.3 percentage points year-on-year to 30.8%.

The import shares of printing and recorded media, other transportation equipment, and wood products increased by 24.2 percentage points, 9.7 percentage points, and 5.2 percentage points, respectively. The import share of medical precision science fell by 1.3 percentage points to 49.8%.

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