Domestic Supply in Manufacturing Down 4.1%... Impacted by Declines in Machinery Equipment, Electronics, and Telecommunications

In the third quarter of this year, the domestic supply of both domestically produced and imported manufacturing products decreased by 4.1% compared to the third quarter of last year.

According to the '2023 Third Quarter Manufacturing Domestic Supply Trends' announced by Statistics Korea on the 10th, the supply of domestic products decreased by 1.6%, while imports fell by 9.2%. This was due to a decline in the supply of machinery equipment and electronics & telecommunications.

Domestic supply of final goods decreased by 4.9% year-on-year, with both consumer goods (-3.5%) and capital goods (-6.8%) declining. The supply of domestically produced final goods was down 2.2%, and imported final goods supply dropped by 10.5%.

Supply of intermediate goods also fell by 3.2% overall, with decreases in both domestic (-1.2%) and imported (-8.1%) products. Domestically, LCD polarizing films and system semiconductors declined, while imports saw reductions in flash memory, SSDs, and hybrid integrated circuits.

By industry, electronics & telecommunications (-13.6%), machinery equipment (-11.8%), and food products (-6.3%) decreased, whereas other transportation equipment increased by 24.4%.

The proportion of imported products in domestic supply was 27.3%, down 2.4 percentage points compared to the same period last year.

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