Industrial production in South Korea shrank by 2% month-on-month on a seasonally adjusted basis in July of 2023, following an upwardly revised 1.5% decline in the previous month amid an economic slowdown. July’s figure was worse than expectations of a 0.4% fall and was the fastest monthly decline since February. On an annual basis, industrial production shrank by 8%, after a 5.9% decline in the prior month. source: Statistics Korea

Industrial Production Mom in South Korea averaged 0.56 percent from 1980 until 2023, reaching an all time high of 11.00 percent in September of 1987 and a record low of -11.00 percent in August of 1987. This page provides the latest reported value for - South Korea Industrial Production Mom - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Industrial Production Mom - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Industrial Production Mom in South Korea is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Industrial Production Mom is projected to trend around 1.20 percent in 2024 and 1.60 percent in 2025, according to our econometric models.

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South Korea Industrial Production Mom



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-27 11:00 PM Jun -1% 3% -0.3% -1.2%
2023-08-30 11:00 PM Jul -2% -1.5% -0.4% 0.2%
2023-10-01 11:00 PM Aug


Related Last Previous Unit Reference
Industrial Production Mom -2.00 -1.50 percent Jul 2023
Industrial Production -8.00 -5.90 percent Jul 2023
Manufacturing Production -5.81 -7.87 percent Jun 2023
Capacity Utilization 100.00 100.00 points Jul 2023
New Orders 12113049.00 10468650.00 KRW Million Jul 2023
Mining Production -3.60 -4.20 percent Jun 2023
Cement Production 5221.00 5825.00 Thousands of Tonnes Dec 2017

South Korea Industrial Production Mom
In South Korea, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.
Actual Previous Highest Lowest Dates Unit Frequency
-2.00 -1.50 11.00 -11.00 1980 - 2023 percent Monthly
2015=100, SA

News Stream
South Korea Industrial Output Fall the Most Since Feb
Industrial production in South Korea shrank by 2% month-on-month on a seasonally adjusted basis in July of 2023, following an upwardly revised 1.5% decline in the previous month amid an economic slowdown. July’s figure was worse than expectations of a 0.4% fall and was the fastest monthly decline since February. On an annual basis, industrial production shrank by 8%, after a 5.9% decline in the prior month.
2023-08-30
South Korea Industrial Output Unexpectedly Rises
Industrial production in South Korea jumped by 3.2% month-on-month on a seasonally adjusted basis in May of 2023, following an upwardly revised 0.6% fall in the previous month. May’s figure came in better than expectations of a 0.8% decline. On an annual basis, industrial output contracted by 7.3%, after a downwardly revised 9 percent fall in the earlier month.
2023-06-29
South Korea Industrial Output Drops in April
Industrial production in South Korea fell 1.2% month-on-month on a seasonally adjusted basis in April of 2023, following an upwardly revised 5.3% rise in the previous month, and compared to market expectation of a 1.5% decline. On an annual basis, industrial output contracted by 8.9%, after a 7.6% decline in the earlier month.
2023-05-30