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S. Korea's domestic manufacturing supply falls in Q2

SEOUL
2023-08-08 11:23

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SEOUL, Aug. 8 (Xinhua) -- South Korea's domestic supply in the manufacturing industry fell for the third consecutive quarter on the back of the reduction in both domestic production and import of manufacturing products, statistical office data showed Tuesday.

The index for domestic manufacturing supply, including the domestically produced and the imported manufacturing products, stood at 107.1 in the April-June quarter, down 1.6 percent from a year earlier, according to Statistics Korea.

It kept sliding for the third straight quarter after reducing 0.4 percent in the first quarter of this year and 0.2 percent in the fourth quarter of last year.

The products supply by local manufacturers shrank 2.0 percent in the second quarter from a year earlier, continuing to decline for the third successive quarter.

The import of manufacturing products slipped 0.1 percent in the cited quarter, marking the first fall in three years.

The portion of import to the total domestic manufacturing supply retreated 0.1 percentage point from a year earlier to 28.1 percent in the second quarter.

The domestic supply of intermediate goods, such as materials and components used for manufacturing production, diminished 0.5 percent in the second quarter after growing 0.5 percent in the previous quarter.

The supply of consumer and capital goods dwindled 2.5 percent and 3.4 percent respectively.
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