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  • KDI Monthly Economic Trends 2021. 1
  • Date January 11, 2021
  • 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)
■ Despite the recovery in the manufacturing industry, the Korean economy remains subdued led by the service industry due to the rapid domestic resurgence of Covid-19.

○ The manufacturing industry is sustaining its recovery owed to the continued fast growth in durable goods consumption, equipment investment, and goods exports.

- Average exports per workday continue to accelerate while machinery equipment investment maintains high growth.

- The cyclical component of the leading composite index is on the rise and semiconductor-related indicators are sustaining favorable trends, suggesting that the manufacturing industry is likely to continue improving.

○ However, the sluggishness in the service industry appears to be worsening since mid-November due to the nationwide resurgence of Covid-19 and tighter quarantine measures.

- The CCSI turned to a steep decline from the continued upward trend, and high-contact businesses such as accommodation and food services continued to shrink rapidly.

- In December, credit card sales are expected to drop sharply due to the ramp-up of social distancing to level 2.5 in the capital area.
 
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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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