S.Korea's domestic manufacturing supply falls in 2020
Source: Xinhua | 2021-02-09
South Korea's domestic supply in the manufacturing sector fell for the third straight year in 2020 amid the COVID-19 pandemic, statistical office data showed Monday.
The index for domestic manufacturing supply, including production at home and imported manufacturing products, stood at 103.6 in 2020, down 0.9 percent from the previous year, according to Statistics Korea.
The index declined by 0.7 percent in 2018 and 0.8 percent in 2019 respectively.
The downward trend was ascribable to the weakened industrial activity at home caused by the COVID-19 outbreak.
The supply by local manufacturers reduced by 2.3 percent, while the import of manufacturing products rose 2.6 percent.
The portion of import to the total domestic manufacturing supply came in at 27.3 percent in 2020, up 1.0 percentage point from the previous year.
Consumer goods supply fell 0.3 percent in 2020, marking the first decline since data began to be compiled in 2010.
The domestic supply of capital goods, including machinery equipment, climbed 7.5 percent last year, but the supply of intermediate goods such as materials and components used for manufacturing production slipped 3.4 percent.
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