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S.Korea's domestic manufacturing supply keeps falling in Q3

Xinhua News,SEOUL
2020-11-06 13:29

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SEOUL, Nov. 6 (Xinhua) -- South Korea's domestic supply in the manufacturing sector kept falling in the third quarter amid the prolonged COVID-19 pandemic, statistical office data showed Friday.

The domestic manufacturing supply, including production at home and imported manufacturing products, reduced 0.3 percent in the July-September quarter from a year earlier, after sliding 4.5 percent in the prior quarter, according to Statistics Korea.

The downward trend was attributable to the weakened industrial activity at home, caused by the negative effect of the COVID-19 pandemic.

The domestic supply of intermediate goods, such as materials and components used for manufacturing production, diminished 2.2 percent in the third quarter from a year earlier.

Capital goods supply, including machinery equipment, expanded 5.0 percent in the quarter on strong demand for semiconductor and display panel equipment.

Consumer goods supply grew 1.2 percent on demand for recreational vehicles, heavy passenger cars, medicine and medical supplies.

Import of manufacturing products gained 1.8 percent in the quarter, but production at home went down 1.1 percent.

The portion of import to the total domestic manufacturing supply stood at 27.6 percent in the September quarter, up 0.5 percentage points from a year earlier.
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