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  • KDI Monthly Economic Trends 2022. 9
  • Date September 07, 2022
  • 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)
■ Korea’s economic recovery is losing steam due to a slowdown in external demand, despite improvement in the service industry.

○ While the service industry maintained the trend of recovery led by face-to-face services, the number of employed persons continued to increase by a wide margin, indicating favorable employment conditions.

- Although the spread of COVID-19 intensified, face-to-face services reported high production growth in accommodation and food services and arts, sports, and recreation-related activities.

- The labor market sustained a robust recovery backed by high employment and labor force participation rates and a low unemployment rate.

○ However, as the global economic slowdown is rippling through the domestic economy, downward pressures are growing, especially in the manufacturing industry.

- Equipment investment and retail sales posted declines, and export growth slowed, led by IT and China.

- Many countries, including Korea, remain supportive of rate hikes, and major Chinese cities entered a lockdown, further adding downward pressure on economic activity.
Private Consumption and Fixed Investment(at 2015 Constant Prices)
Net Purchases by Foreign Investors
Banks Loans to the Corporate Sector
 
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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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