Domestic Supply in Manufacturing Decreases by 0.4% in Q3... Five Consecutive Quarters of Negative Trend

The Longest Decline Since Statistics Compilation

Domestic supply of manufacturing products decreased in the third quarter, marking a decline for five consecutive quarters.

According to the '3rd Quarter Manufacturing Domestic Supply Trends' released by Statistics Korea on the 8th, the domestic supply index for manufacturing products in the quarter was 103.1, down 0.4% compared to the same period last year. This was due to a 4.5% increase in imports but a 2.3% decrease in domestic products.

Domestic supply increased in areas such as machinery and equipment (5.6%), but decreased in electronics and telecommunications (-12.5%) and electrical equipment (-10.3%). Imports decreased in chemical products (-7.9%) but increased in other transportation equipment (79.1%) and machinery and equipment (12.4%).

Domestic supply in manufacturing has shown a decline for five consecutive quarters since the third quarter of last year (-2.9%). Statistics Korea explained that this is the longest negative trend since related statistics began being compiled in 2010.

Final goods increased by 3.2% year-on-year as capital goods rose by 8.2% despite a 0.2% decrease in consumer goods. Intermediate goods decreased by 2.8% due to declines in electronics and telecommunications, and primary metals.

The import share rose by 2.0 percentage points year-on-year to 29.1%. It has shown an upward trend for four consecutive quarters since the fourth quarter of last year (26.7%).

The manufacturing domestic supply index combines domestic and imported manufacturing products to comprehensively understand changes in domestic supply volume and the structure of domestic·imported products.