S.Korea's domestic manufacturing supply grows 4.5 pct in 2021

South Korea's domestic supply in the manufacturing industry logged the highest-ever yearly growth last year due to a sharp rise in import of manufacturing products, statistical office data showed Wednesday.

The index for domestic manufacturing supply, which includes the local production and the import of manufacturing products, stood at 108.7 in 2021, up 4.5 percent from the previous year, according to Statistics Korea.

It marked the fastest increase since data began to be compiled in 2010, rebounding after falling 0.7 percent in 2018, making no change in 2019 and skidding 1.2 percent in 2020 respectively.

The products supply by local manufacturers added 0.7 percent last year, while the import of manufacturing products surged 14.7 percent on solid demand for electronic products and machinery equipment.

The portion of imports to the total domestic manufacturing supply advanced 2.2 percentage points over the year to reach a new yearly high of 29.4 percent in 2021.

The domestic supply of intermediate goods, such as materials and components used for manufacturing production, increased 5.6 percent last year.

The supply of finished products, including consumer and capital goods, gained 2.9 percent in the year.