Industrial production in South Korea fell by 8% year-on-year in July of 2023, following a 5.9% decline in the prior month, while economists expected a 5.2% fall. source: Statistics Korea

Industrial Production in South Korea averaged 8.05 percent from 1976 until 2023, reaching an all time high of 38.80 percent in July of 1976 and a record low of -25.30 percent in January of 2009. This page provides the latest reported value for - South Korea Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Industrial Production in South Korea is expected to be 3.50 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 is projected to trend around 4.00 percent in 2024 and 3.60 percent in 2025, according to our econometric models.

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South Korea Industrial Production



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-27 11:00 PM Jun -5.6% -7.6% -5.5% -4.2%
2023-08-30 11:00 PM Jul -8% -5.9% -5.2% -3.1%
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
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
-8.00 -5.90 38.80 -25.30 1976 - 2023 percent Monthly
2015=100, NSA

News Stream
South Korea Industrial Output Falls the Most in 25 Months YoY
Industrial production in South Korea fell by 3.7% year-on-year in November of 2022, the most since August 2020 and picking up from the upwardly revised 1.2% decline in the prior month. Manufacturing production fell by 3.8% in the period, also accelerating from the 1.2% drop in October. In the meantime, industrial output rose by 0.4% on a seasonally adjusted monthly basis, rebounding from the 3.5% drop in the earlier month.
2022-12-28
South Korea Industrial Output Turns Negative in Oct
Industrial production in South Korea dropped 1.1% year-on year in October 2022, turning negative for the first time since September 2021 as rising interest rates, weaker external demand and heightened uncertainties weighed on economic activity. October’s figure also missed expectations for no change and followed a 0.7% gain in September. On a monthly basis, industrial output declined 3.5% in October, falling at the fastest pace since May 2020 and missed expectations for a milder 1% drop.
2022-11-29
S. Korea Industrial Output Slightly Misses Expectation
South Korea industrial output rose by 0.8% year-on year in September of 2022, marginally lower from market expectation of a 0.9% rise, and easing from an upwardly revised 1.5% growth in August. Output increased at a slower pace for all sub-indexes: manufacturing (0.8% in September vs 1.4% in August), construction (3.9% vs 6.1%), and service industry (5.6% vs 7.4%). Meanwhile, activities in public administration contracted by 5.3% after steadying in the prior month. On a monthly basis, industrial production fell by 1.8%, following a 1.4% decline in the previous period.
2022-10-31