Korea Industry April 2022


Korea: Industrial output growth moderates in April

May 31, 2022

Industrial output rose 3.7% compared to the same month a year earlier in April in seasonally-adjusted terms, which followed March's 5.5% increase.

On a seasonally-adjusted monthly basis, industrial production contracted 3.3% in April (March: +1.1% mom). Meanwhile, annual average industrial production growth fell to 6.8% in April (March: +7.6%). This signals a worsening trend in the industrial sector.

FocusEconomics panelists see GDP growth at 2.8% in 2022, which is unchanged from the previous month’s forecast. For 2023, GDP is seen expanding 2.6%.


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Korea Industry Chart

Korea Industry April 2022 0

Note: Year-on-year and annual average variation of industrial production index in %.
Source: National Statistics Office of Korea (KOSTAT).

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