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KDI Monthly Economic Trends 2018. 7

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KDI Brief No.138 (July 10, 2018)

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KDI Monthly Economic Trends 2018. 7
The overall pace of economic improvement appears to be moderating as Korea’s export growth remains steady but growth in domestic demand slows.
 
 
Exports turned to a decrease mostly due to temporary factors and those of semiconductors, petrochemical and petroleum products sustained a high growth trend.
- The contraction in industrial production (mining and manufacturing) eased slightly while the manufacturing capacity utilization rate and shipment-to-inventory ratio improved.
 
However, the retail sales growth rate and consumer sentiment index stalled and serviced production remained stagnant, indicating that the improvement in consumption is slowing gradually.
 
The growth in facilities investment took a downswing led by machinery and that in construction investment stayed low at the 0% level, implying that investment remains sluggish.
 
Accordingly, the pace of improvement in overall production is gradually slowing and employment growth stayed low.
 
Major Economic Indicators
(Year-on-Year % Change)
2016 2017 2017 2018
4 5 6

   Exports (f.o.b.)

-5.9

15.8

24.0

8.4

10.1

3.5

-1.5

13.2

-0.1

   Imports (c.i.f.)

-6.9

17.8

17.9

11.6

13.6

12.7

14.7

12.7

10.7

   Balance of Trade
   (Billion US Dollars)

89.2

95.2

30.2

20.1

13.1

-

6.6

6.6

6.3

   Consumer Price

1.0

1.9

2.3

1.5

1.3

1.5

1.6

1.5

1.5

   3-year Treasury Bonds

1.64

2.13

1.89

2.13

2.22

2.12

2.22

2.20

2.12

   KOSPI

2,026

2,468

2,394

2,468

2,446

2,326

2,515

2,423

2,326

   Won/Dollar Exchange Rate

1,207.7

1,070.5

1,145.4

1,070.5

1,063.5

1,114.5

1,068.0

1,077.0

1,114.5

   Oil Prices
   (Dubai, US$/Barrel)

41.4

53.2

50.5

59.3

63.9

72.1

68.3

74.4

73.6

※ This summary and assessment is a part of 『KDI Monthly Economic Trends 2018. 7』. Please visit the KDI Monthly Economic Trends page and see more graphs.
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