On Tuesday, Statistics Korea reported that South Korean manufacturers’ domestic supply dropped 1.6% year-on-year in the second quarter of 2023, due to the low performance of the electronics and chemical industries.
The manufacturing domestic supply index was measured at 107.1, slightly lower than the 108.8 reported in the prior year. This index takes into account both locally produced goods and imports, and is seen as a key indicator of domestic demand trends.
The supply of locally manufactured goods decreased 2%, largely due to a decrease in electronic and telecom products, while the supply of imports only declined 0.1%, due to a decrease in basic metal products. The index for consumer goods decreased 2.5%, and that for capital goods fell 3.4%. The supply of intermediate goods, however, rose 0.5%.