Korea skyline

Korea Industry April 2021

Korea: Industrial output notches best reading since October 2018 in April

Industrial output expanded 12.4% year-on-year in April (March: +4.4% yoy), amid a favorable base effect. The print marked the best result since October 2018. Notably, both domestic- and externally-oriented manufacturing production gained significant steam.

On a monthly basis, industrial output decreased 1.6% in seasonally-adjusted terms in April, which was below March’s 0.9% fall and marked the worst result since May 2020. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at plus 1.2%, contrasting March’s minus 0.3% reading.

Going forward, disruption in production at auto factories amid a chip shortage poses a downside risk to industrial production. That said, a favorable base effect should boost May’s figure, which is likely to gain momentum from the previous month.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest