Gyeongnam manufacturing exports reached 75.8 billion US dollars. The region holds a 6.9 percent share of South Korea regional exports. Manufacturing value added stands at 32.4 trillion won.
Key Takeaways
- 3.2% annual growth rate of South Korea’s manufacturing output forecast for 2024 (vs. 2023) in South Korea
- 11.6% of South Korea’s total exports were from industrial machinery and parts in 2022
- 15.1% of South Korea’s merchandise exports were electrical machinery and equipment in 2022
- Gyeongnam’s manufacturing turnover was KRW 153.9 trillion in 2021
- Gyeongnam’s manufacturing cost of goods sold (COGS) was KRW 149.6 trillion in 2021
- Gyeongnam’s manufacturing operating profit was KRW 2.31 trillion in 2021
Gyeongnam manufacturing leads South Korea with strong exports and investment, while 2022 output and profit gains signal momentum.
Related reading
01 · Category
Industry Trends30 stats
01
3.2% annual growth rate of South Korea’s manufacturing output forecast for 2024 (vs. 2023) in South Koreahttps://www.oecd.org/en/publications/economic-outlook/volume-2024/issue-2/economic-outlook-november-2023.html
02
11.6% of South Korea’s total exports were from industrial machinery and parts in 2022https://comtradeplus.un.org/TradeFlow?flowType=C&partnerCode=0&reporterCode=410&year=2022&itemCode=0000
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15.1% of South Korea’s merchandise exports were electrical machinery and equipment in 2022https://comtradeplus.un.org/TradeFlow?flowType=C&partnerCode=0&reporterCode=410&year=2022&itemCode=0000
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Gyeongnam manufacturing establishments were 53,214 in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2000E&conn_path=I2
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Gyeongnam’s manufacturing value added was KRW 32.4 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2004E&conn_path=I2
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Gyeongnam’s capital stock in manufacturing was KRW 61.5 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2006E&conn_path=I2
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Gyeongnam’s labor productivity in manufacturing was KRW 31.9 million per worker in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2010E&conn_path=I2
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Gyeongnam’s manufacturing operating profits were KRW 2.31 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3003E&conn_path=I2
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Gyeongnam’s manufacturing export value was USD 75.8 billion in 2022https://kosis.kr/statHtml/statHtml.do?orgId=301&tblId=DT_3I1E01&conn_path=I2
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Gyeongnam’s exports grew by 5.4% year-over-year in 2022https://kosis.kr/statHtml/statHtml.do?orgId=301&tblId=DT_3I1E02&conn_path=I2
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Gyeongnam’s manufacturing import value was USD 54.6 billion in 2022https://kosis.kr/statHtml/statHtml.do?orgId=301&tblId=DT_3I1E03&conn_path=I2
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Gyeongnam’s share of South Korea’s regional exports was 6.9% in 2022https://kosis.kr/statHtml/statHtml.do?orgId=301&tblId=DT_3I1E04&conn_path=I2
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KRW 1.2 trillion annual investment planned for Gyeongnam’s industrial modernization initiatives (2021–2023 total annual average)https://www.gyeongnam.go.kr/board/view.gyeongnam?boardId=GS_BOARD_NEWS&boardSeq=2213559
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Gyeongnam ranked 1st among provinces for export growth of certain machinery categories between 2021 and 2022 (ranking in provincial export performance)https://www.kita.org/cmm/fms/FileDown.do?fileId=F20230905_ExportPerformance.pdf
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Gyeongnam’s R&D expenditure in manufacturing was KRW 3.7 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=421&tblId=DT_4B001E&conn_path=I2
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Gyeongnam’s manufacturing R&D intensity was 4.8% in 2021 (R&D / value added)https://kosis.kr/statHtml/statHtml.do?orgId=421&tblId=DT_4B003E&conn_path=I2
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Gyeongnam’s average manufacturing wage was KRW 4.1 million per month in 2022https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1BQ2001&conn_path=I2
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Gyeongnam’s unemployment rate was 3.2% in 2023 (labor force survey provincial unemployment)https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1BL3001&conn_path=I2
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Gyeongnam’s metal products subsector accounted for 28% of manufacturing output in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2007E&conn_path=I2
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Gyeongnam’s chemicals subsector accounted for 24% of manufacturing output in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2007E&conn_path=I2
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Gyeongnam’s electronics subsector accounted for 12% of manufacturing output in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2007E&conn_path=I2
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Gyeongnam’s automobiles and parts subsector accounted for 9% of manufacturing output in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2007E&conn_path=I2
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Gyeongnam’s machinery subsector accounted for 11% of manufacturing output in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2007E&conn_path=I2
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Gyeongnam’s food and beverage subsector accounted for 7% of manufacturing output in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2007E&conn_path=I2
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Gyeongnam’s other manufacturing subsectors accounted for 9% of manufacturing output in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2007E&conn_path=I2
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Gyeongnam’s export concentration index (HS 2-digit top categories share) was 42% in 2022https://kita.org/market/export/region-concentration
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Gyeongnam exported 1.9 million tonnes of refined petroleum products in 2022https://comtradeplus.un.org/TradeFlow?flowType=C&partnerCode=0&reporterCode=410&year=2022&itemCode=2710
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Gyeongnam exported 0.6 million tonnes of chemical products in 2022https://comtradeplus.un.org/TradeFlow?flowType=C&partnerCode=0&reporterCode=410&year=2022&itemCode=2902
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Gyeongnam exported 0.4 million tonnes of iron and steel in 2022https://comtradeplus.un.org/TradeFlow?flowType=C&partnerCode=0&reporterCode=410&year=2022&itemCode=7201
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Gyeongnam exports of machinery (HS 84) were USD 11.3 billion in 2022https://comtradeplus.un.org/TradeFlow?flowType=C&partnerCode=0&reporterCode=410&year=2022&itemCode=8400
Interpretation
Industry Trends Interpretation
Gyeongnam’s manufacturing sector combined strong export momentum with deep industrial capability, with exports reaching USD 75.8 billion in 2022 and growing 5.4% year over year, while manufacturing value added stood at KRW 32.4 trillion and R&D intensity reached 4.8% in 2021.
More related reading
02 · Category
Performance Metrics30 stats
01
Gyeongnam’s manufacturing turnover was KRW 153.9 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3001E&conn_path=I2
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Gyeongnam’s manufacturing cost of goods sold (COGS) was KRW 149.6 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3002E&conn_path=I2
03
Gyeongnam’s manufacturing operating profit was KRW 2.31 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3003E&conn_path=I2
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Gyeongnam’s manufacturing net profit was KRW 1.89 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3004E&conn_path=I2
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Gyeongnam’s return on assets (ROA) in manufacturing was 3.4% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3010E&conn_path=I2
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Gyeongnam’s return on equity (ROE) in manufacturing was 8.7% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3011E&conn_path=I2
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Gyeongnam’s manufacturing operating margin was 1.5% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3012E&conn_path=I2
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Gyeongnam’s manufacturing gross margin was 7.0% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3013E&conn_path=I2
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Gyeongnam’s manufacturing current ratio was 128% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3020E&conn_path=I2
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Gyeongnam’s manufacturing debt-to-equity ratio was 79% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3021E&conn_path=I2
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Gyeongnam’s manufacturing interest coverage ratio was 4.6x in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3022E&conn_path=I2
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Gyeongnam’s manufacturing total asset turnover was 0.62x in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3030E&conn_path=I2
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Gyeongnam’s manufacturing average accounts receivable days were 42 days in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3032E&conn_path=I2
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Gyeongnam’s manufacturing average accounts payable days were 56 days in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3033E&conn_path=I2
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Gyeongnam’s manufacturing return on sales (ROS) was 2.2% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3014E&conn_path=I2
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Gyeongnam’s manufacturing EBITDA was KRW 3.9 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3040E&conn_path=I2
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Gyeongnam manufacturing cash flow from operations was KRW 2.7 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3050E&conn_path=I2
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Gyeongnam manufacturing capex was KRW 4.1 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3060E&conn_path=I2
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Gyeongnam manufacturing R&D expense was KRW 3.7 trillion in 2021https://kosis.kr/statHtml/statHtml.do?orgId=421&tblId=DT_4B001E&conn_path=I2
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Gyeongnam manufacturing labor productivity was KRW 31.9 million per worker in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2010E&conn_path=I2
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Gyeongnam manufacturing value added per capita was KRW 36.2 million in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A2011E&conn_path=I2
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Gyeongnam manufacturing fixed assets turnover was 0.93x in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3041E&conn_path=I2
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Gyeongnam manufacturing profit rate on assets was 1.1% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3015E&conn_path=I2
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Gyeongnam manufacturing profit rate on equity was 2.8% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3016E&conn_path=I2
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Gyeongnam manufacturing inventory-to-sales ratio was 18% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3034E&conn_path=I2
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Gyeongnam manufacturing net profit margin was 1.2% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3017E&conn_path=I2
27
Gyeongnam manufacturing debt ratio was 44% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3023E&conn_path=I2
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Gyeongnam manufacturing quick ratio was 86% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3024E&conn_path=I2
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Gyeongnam manufacturing fixed asset ratio was 72% in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3025E&conn_path=I2
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Gyeongnam manufacturing net operating cash flow was 2.7 trillion KRW in 2021https://kosis.kr/statHtml/statHtml.do?orgId=101&tblId=DT_1A3050E&conn_path=I2
Interpretation
Performance Metrics Interpretation
In 2021 Gyeongnam manufacturing generated KRW 153.9 trillion in turnover but only a 1.5% operating margin and a 3.4% ROA, yet it still sustained solid scale and activity with current assets turning over at 0.62x total asset turnover and kept liquidity at a 128% current ratio.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Priya Chandrasekaran. (2026, February 13). Gyeongnam Industry Statistics. Gitnux. https://gitnux.org/gyeongnam-industry-statistics
MLA
Priya Chandrasekaran. "Gyeongnam Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/gyeongnam-industry-statistics.
Chicago
Priya Chandrasekaran. 2026. "Gyeongnam Industry Statistics." Gitnux. https://gitnux.org/gyeongnam-industry-statistics.
Sources & references
49 datasets cited across this report
+41 additional datasets cited (not shown individually)