In November, the import price (33.4%) rose more than the export price (20%), and the import value index rose 42.8% from the previous year, and the increase and decrease of industrial production were fixed in response to the decrease in consumption.
The Bank of Korea's trade balance index showed that the export amount index (140.66) rose 27.1% to the highest level, but the result was biased due to a 43.7% surge in semiconductor exports.
Industrial activity in November, driven by the government's With Corona consumption promotion, saw a 1.9% decrease in consumption compared to the previous month, and an increase in automobile production (11.3%) and semiconductors (4.5%). showed the largest increase in
The 10.9% increase in facility investment in November depended on the large-scale expansion of the semiconductor industry, and the largest increase since November 2014 (12.0%) during the economic boom was concentrated on semiconductors.
The index of all industrial production (excluding agriculture, forestry and fisheries) was 114.4 (2015 = 100), up 3.2% from the previous month, but exports increased by 5.9% due to a 7% increase in imports.
The total industrial production of Statistics Korea was January (-0.5%) February (2.0%) March (0.9%) April (-1.3%) May (-0.2%) June (1.6%) July (-0.7%) %) August (-0.1%) September (1.1%) October (-1.9%) November (3.2%) repeated the increase and decrease.
Due to the surge in imports, Dubai oil soared 84.9% and natural gas rose by 80%, leading to a 42.8% increase in the index.
As for the decrease in consumption, retail sales decreased by 1.9% despite the increase in industrial production, and it began to decrease again in 3 months after August (-0.8%), and showed the largest decrease in 15 months since July of last year (-6.1%). Even after the Corona virus took effect in November, sales of semi-durable goods such as clothes (-5.7%) and durable goods such as home appliances (-3.2%) decreased, only non-durable goods such as cosmetics (0.4%) increased.
In November, the U.S. posted a record deficit of $97.8 billion in the goods balance due to consumption increase, the largest increase in history. recorded
Deputy Prime Minister Hong Nam-ki on Facebook on the 30th said, "The production of all industries (3.2%) has improved significantly, including the largest increase in 17 months since June last year. While automobile production increased significantly due to easing, etc., production in the main industries such as semiconductors and information and communication technology (ICT) was showing a strong recovery, showing a complete recovery from the three-month decline.”