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  • KDI Monthly Economic Trends 2020. 7
  • Date July 08, 2020
  • Language Korean/English
PDF Major Indicators
    Major Economic Indicators

    Summary and Assessment

    Major Indicators of the Korean Economy

    1. Gross Domestic Product
     (at 2015 Constant Prices)

    2. Economic Activity

    3. Consumption

    4. Equipment Investment

    5. Construction Investment

    6-1. Exports, Imports and Terms of Trade

    6-2. Current Account and Financial Account

    7. Employment and Wage

    8. Price Indices

    9-1. Financial Market (I)

    9-2. Financial Market (II)

    10-1. Major Indicators of the World Economy (I)

    10-2. Major Indicators of the World Economy (II)
■ The slowdown in Korea’s consumption has decelerated, but economic activity remains sluggish due to falling external demand on the global spread of COVID-19.

○ Owing to the national emergency relief fund and ‘daily quarantine’ scheme, consumption has recovered slightly and facilities investment is maintaining growth, pointing to less contraction in domestic demand.

- The consumption of durable goods, mainly automobiles, sustained a two-digit growth continuing last month’s trend while services production declined less.

- Despite the severe overall slump in the manufacturing industry, facilities investment showed high growth led by semiconductors.

○ However, exports continue to slide by a large margin due to falling external demand.

- June’s exports per workday posted huge losses, continuing last month’s trend, led by automobiles and petroleum products.

- In May, manufacturing production plunged, the inventory-to-shipment ratio increased, and the capacity utilization rate fell to a near-past crises level.

○ Meanwhile, as major countries restart their economic activity, expectations for a recovery are rising. But, the number of COVID-19 cases is rising both domestically and globally, and it looms as a potential downward risk to the economy.
 
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Office of Global Economy
Providing Economic Forecast and Macroeconomic Policy Direction, the Groundwork for a Brighter Future

The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

Main Tasks
  • Economic trend analysis, short- and long-term forecast
  • Policy study on macroeconomic management
  • Basic structural analysis on macroeconomic areas
  • Maintenance of multi-sectoral dynamic macroeconomic model
Department of Macroeconomic Policy
  • LEE. Tae Suk

    Director, Division of Analysis and Evaluation

    82-044-550-4725
  • CHO, Byungkoo On leave

    Director and Vice President, Department of North Korean Economy

    82-044-550-4725
  • LEE, Jongkyu

    Fellow

    82-044-550-4725
  • WEE, Hyeseung Dispatched

    Research Associate

    82-044-550-4725
  • NAM, Jinwook On leave

    Specialist

    82-044-550-4725
  • KIM, Seulki

    Research Associate

    82-044-550-4725
  • CHUN, Eunkyung

    Research Associate

    82-044-550-4725
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