April 26, 2024
Economy
Supply of manufactured goods in Q1 hits record-high
[THE INVESTOR] Korea’s total supply of manufacturing goods both locally produced and imported reached a record-high in the first three months of the year, government data showed on May 10.
The manufacturing domestic supply index advanced 7.1 percent to stand at a record 112.4 from a year earlier during the January-March period, according to the data compiled by Statistics Korea.
That of Korean-made goods added 3 percent on-year, while imported products saw their index jump 16.9 percent over the three-month period.
The office said an increase in the index represents a rise in the purchasing power of Korean consumers and producers, and an expansion of the domestic market.
The index for consumer goods rose 3 percent in the first quarter and the figure for intermediate goods added 5.4 percent, with that of capital goods soaring 21.9 percent on-year.
The data also showed that out of the total domestic supply, foreign-made items, including consumer goods, accounted for 32.2 percent in the three-month period, up 2.6 percentage points from a year earlier.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The manufacturing domestic supply index advanced 7.1 percent to stand at a record 112.4 from a year earlier during the January-March period, according to the data compiled by Statistics Korea.
That of Korean-made goods added 3 percent on-year, while imported products saw their index jump 16.9 percent over the three-month period.
The office said an increase in the index represents a rise in the purchasing power of Korean consumers and producers, and an expansion of the domestic market.
The index for consumer goods rose 3 percent in the first quarter and the figure for intermediate goods added 5.4 percent, with that of capital goods soaring 21.9 percent on-year.
The data also showed that out of the total domestic supply, foreign-made items, including consumer goods, accounted for 32.2 percent in the three-month period, up 2.6 percentage points from a year earlier.
By Alex Lee and newswires (alexlee@heraldcorp.com)
