Nation’s machinery industry to grow 5.1 percent in 2013

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Nation’s machinery industry to grow 5.1 percent in 2013

The output of Korea’s machinery industry is expected to rise 5.1 percent on-year to 453.7 trillion won ($424 billion) in 2013, with its growth likely to turn around slightly on a possible recovery in the global economy, a trade association said.

Machinery exports are forecast to grow 8.9 percent from a year earlier to $194.6 billion next year, with the machinery industry expected to post a trade surplus of $88.9 billion, according to a report by the Korea Association of Machinery Industry.

This year, sluggish domestic facility investment and the deepening global slowdown weighed heavily on the industry.

Yonhap

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