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S.Korea's domestic manufacturing supply grows in Q3

SEOUL
2022-11-08 13:57

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SEOUL, Nov. 8 (Xinhua) -- South Korea's domestic supply in the manufacturing industry grew in the third quarter due to higher import of manufacturing products, statistical office data showed Tuesday.

The index for domestic manufacturing supply, including production at home and imported manufacturing products, stood at 110.9 in the July-September quarter, up 5.3 percent from a year earlier, according to Statistics Korea.

It continued to increase for the seventh consecutive quarter since the first quarter of 2021.

The products supply by local manufacturers gained 2.1 percent in the third quarter, marking the first growth in five quarters.

The import of manufacturing products jumped 13.0 percent in the cited quarter.

The proportion of imports to the total domestic manufacturing supply added 2.0 percentage points over the year to 32.2 percent in the third quarter, logging the highest since data began to be compiled in 2010.

The domestic supply of intermediate goods, such as materials and components used for manufacturing production, rose 6.3 percent in the third quarter, keeping an upward trend for the eighth successive quarter.

The supply of consumer and capital goods increased 5.0 percent and 2.6 percent respectively.
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