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2014 Industrial Outlook

Author Growth Engine Industry Research Division Date 2013.11.28 Issue No 570

The export of the 10 key industries is prospected to grow 5.1%. which is higher than that of the 2013, because of the strengthened competitiveness of the leading industries and  economic recovery in the U.S. EU and developing countries.    


● Machinery industry is anticipated to dramatically improve(5.4%) while IT industry would maintain its booming trend although the base effect would slow down the growth of the IT industry(5.9%) .Material industry is prospected to improve slightly(3.6%)


● Shipbuilding industry is expected to be sluggish, declining 1% due to the weakened unit price of steel, the slump in demand in China and the oversupply caused by the sharp decrease in ship order since the global fiscal crisis.   

The production output is prospected to be on the growth thanks to the increase in export as a whole, despite the constraints resulting from the expanded overseas production of automotive industry and some of IT industry, and the sluggish shipbuilding industry. 

The growth rate of the domestic demand for individual industries with the exception of shipbuilding industry would range from 1% to 8 % while general machinery industry would witness 10% increase in its domestic demand.


The import of the entire industry is expected to grow 5.3% thanks to the increase in the import of finished goods and parts and materials. Machinery Industry would record relatively high growth rate. 


Some of the industries (mobile phone, home appliance and automobile) enjoyed the export booming partially because the expanded capacity of their foreign production base induces the export of parts. 

The factors which would become the variables for the growth of the 10 leading industries, are how much emerging economies would recover, How long the strong won/lower yen would persist and the how much the global position of Chinese companies would rise.