Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) South Korean manufacturers' domestic supply rose at the fastest-ever pace in the second quarter as the country's economy is on a recovery track on brisk exports, data showed Tuesday.

The manufacturing domestic supply index stood at 111.1 in the April-June period, up 9.2 percent from a year earlier, according to the data from Statistics Korea.

It marked the sharpest on-year gain since the first quarter of 2010 when the statistics agency began compiling related data.

The index, which measures both locally produced goods and imports, serves as a major indicator of domestic demand trends.

The quarterly index grew for the second straight quarter in the April-June period as Asia's fourth-largest economy is on a recovery path on the back of robust exports of chips and autos.

In the second quarter, the increase in manufacturers' domestic supply was led by a sharp rise of imports, according to the statistics agency. Imports for domestic supply grew at the fastest-ever pace of 17.2 percent.

Demand for electronics goods was high from stay-at-home people, and facility investment remained robust amid increased imports of chip-making parts last quarter, it added.

The index for consumer goods rose 1.9 percent on-year in the cited period, compared with a 4.8 percent fall three months earlier.

The supply for capital goods -- which refers to machinery used in industrial sectors -- increased 5.3 percent from a year earlier, up from a 0.3 percent on-year gain in the first quarter.

The supply of intermediate goods gained 13.8 percent on-year, compared with a 3.6 percent increase from three months earlier, the data showed.


sooyeon@yna.co.kr


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Source: Yonhap News (August 10, 2021)