South Korea’s Ministry of planning and Finance released its green book on recent economic trends on Friday saying that South Korea’s export and investment have recovered in the near future, employment population has declined by a narrow margin, affected by the epidemic, and domestic demand has continued to decline.
The South Korean Government referred to real economic uncertainty for eight months from July to February, but there was no wording in the green paper. The Ministry of Finance said at a press conference that the recovery momentum of the real economy has continued under the impetus of export and investment recovery in the near future, domestic demand has declined from February, and the real economic indicators are unlikely to continue to deteriorate in the short term.
The domestic card reading volume in February increased by 8.6% year-on-year, and the negative value was positive in 3 months. Department store sales increased 39.5 percent, the biggest increase since 2005. The sales of discount stores increased by 24.2%, the largest increase since february2015. Catering, accommodation, arts and art leisure and sports industries still maintain a double-digit decline, and there are still deviations in various fields of domestic demand.
In addition, the network sales increased by 9.5%, a decrease from 18.1% in January; domestic sales of passenger vehicles in South Korea increased by 28.4%, which remained increasing after January; the consumer confidence index (CSI) was 97.4, higher than 95.4 in January; Chinese tourists visited South Korea decreased 89.4% on month basis; in February, employment population decreased by 473000 people year on year, falling for 12 consecutive months since February; exports increased by 9.5% year-on-year in February, with daily average daily average of 12 months The export volume was US $2.3 billion, an increase of 26.4 per cent year on year.