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Korea's Total Goods, Srvices Ouput Rises 13.6% 2010

June 01, 2012 11:58|July 04, 2012 13:12
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Korea's total goods and services output rose 13.6 percent on-year in 2010, thanks to steady economic expansion, the central Bank of Korea (BOK) said on May30.

BOK's annual supply and demand data showed overall output reached 3,733.1 trillion won, up from 3,286.7 trillion won for the previous year.

Of the total, domestic output accounted for 3,124.0 trillion won and imports 609.1 trillion won. About 52.8% of the total supply was used as intermediate goods for domestic production; 30.6% was used to meet domestic final demand; and the remaining 16.6% was exported.

Exports and imports made up 32.9% of the total supply (total demand), 1.1%p more than 2009 (31.8%).

By industry, manufacturing accounted for the highest share at 50.2%, followed by services (37.7%), electricity, gas, water supply & construction (8.5%) and agricultural, forestry & fishing (1.7%). The share of manufacturing rose by 2.5% from 2009, while that of services fell by 1.6%.

Meanwhile, total final demand in 2010 amounted to 1,761.7 trillion won, representing a rise of 13.0% from the previous year. The share of consumption fell by 2.8% from 47.9% in 2009, while that of investment and that of exports increased by 1.8% and 0.9%, respectively.