Industry in Korea

Korea Industry | Economic News & Forecasts

Korea - Industry

Industrial production rebounds in October

Industrial production in the mining, manufacturing, and gas and electricity sectors jumped 10.7% in October compared to the same month a year earlier, contrasting the 8.4% decrease in September, which was the largest decline in industrial output in nine-and-a-half years. The average annual change in industrial production improved from -1.7% in September to -0.4% in October.

Output in the manufacturing sector—which accounts for most of industrial production in Korea—rose 11.1% in October, contrasting the 8.9% fall in September. This was due to a rebound in output destined for both domestic and foreign markets. Meanwhile, the average factory capacity utilization rate ticked up to 74.0% in October from 73.8% in September, while inventory levels increased.

A month-on-month comparison adjusted for seasonality shows that industrial production rose 1.0% in October, contrasting the 2.7% decrease in September.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.3% in 2019, which is down 0.4 percentage points from last month’s forecast. For 2020, our panelists expect industrial output to expand 2.3% again.

Korea - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)0.7  0.3  -0.3  2.3  1.9  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


Korea Industry Chart

Korea Industry
Note: Annual variation of industrial production in %.
Source: Korea National Statistics Office and FocusEconomics calculations.

Korea Facts

Bond Yield2.001.55 %Dec 14
Exchange Rate1,1310.21 %Dec 14
Stock Market2,069-0.40 %Dec 14

Sample Report

Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.


Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form