S.Korea's domestic manufacturing supply rises in 2022-Xinhua

S.Korea's domestic manufacturing supply rises in 2022

Source: Xinhua| 2023-02-08 15:16:00|Editor: huaxia

SEOUL, Feb. 8 (Xinhua) -- South Korea's domestic supply in the manufacturing industry rose last year due to higher import of manufacturing products, statistical office data showed Wednesday.

The index for domestic manufacturing supply, including products made at home and imported from abroad in the manufacturing sector, stood at 111.4 in 2022, up 2.5 percent from the previous year, according to Statistics Korea.

It continued to gain for the second consecutive year on higher demand for imported products.

The import of manufacturing products jumped 9.2 percent last year, but the products supplied by local manufacturers declined 0.4 percent owing to lower demand for chemical and primary metal products.

The proportion of imports to the total domestic manufacturing supply climbed 1.8 percentage points over the year to 31.2 percent in 2022, topping 30 percent for the first time.

The domestic supply of intermediate goods, such as materials and components used for manufacturing production, expanded 3.7 percent, while the supply of end goods, including consumer and capital goods, added 0.5 percent in 2022.

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