Last Year, Mining and Manufacturing Shipments Increased by 17%... Highest in 11 Years

Statistics Korea '2021 Mining and Manufacturing Survey Results (Provisional)'

[Asia Economy Sejong=Reporter Kwon Haeyoung] Last year, the shipment value of mining and manufacturing industries increased by 17% compared to the previous year, recording the highest growth rate in 11 years due to the export boom.

Statistics Korea announced on the 13th the '2021 Mining and Manufacturing Survey Results (Provisional)' containing these details.

Last year, the amount shipped for product sales, etc., from businesses with 10 or more employees engaged in mining and manufacturing was 1,769.1 trillion KRW, an increase of 17.4% (261.8 trillion KRW) compared to the same period last year. The growth rate is the highest since 2010 (18.0%), and the increase amount is the largest since the statistics began.

Manufacturing accounted for 1,765.8 trillion KRW, and mining for 3.3 trillion KRW, increasing by 17.4% and 8.0%, respectively. This is interpreted as an effect of economic recovery and increased exports following the COVID-19 impact.

The value added of mining and manufacturing, calculated by subtracting major intermediate input costs from production value, was 644.8 trillion KRW, up 15.8% (88 trillion KRW) compared to the same period last year.

The number of businesses with 10 or more employees in mining and manufacturing was 72,864, an increase of 2.5% (1,748 businesses) compared to the same period last year. The number of employees in mining and manufacturing increased by 0.9% (27,000 people) to 2,949,000. Shipment value per business was 24.3 billion KRW, and value added per business was 8.8 billion KRW, increasing by 14.6% (3.1 billion KRW) and 13.0% (1.0 billion KRW), respectively.

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