The purpose of this study is to make policy suggestions on how to improve the practice and state of inventory statistics in South Korea.
National inventory statistics (indices), which measure changes in inventory level, are important indicators of short-term economic trends in a nation. Such statistics also provide crucial foundations for all forms of social accounts, including national income, because changes in inventory levels often indicate the likelihood of changes in investments and savings in the form of inventories.
Changes in Korea’s agricultural inventories have traditionally coincided with changes in autumn grain harvests and grain imports. But while statistics on these agricultural inventories provide important data on social accounts, they hold little value as indicators of short-term economic fluctuations in Korea. Statistics on the inventories of raw materials and mineral and manufactured goods, on the other hand, are not only important in terms of social account data, but are also some of the most significant indicators of short-term economic trends.
As agricultural inventory statistics in Korea offer little value as indicators of short-term economic trends, and are collected in detail by the Bank of Korea as basic data for social statistics, this study focuses on inventory statistics for raw materials and mineral and manufactured goods only.
The improvements required of statistics on raw materials and mineral and manufactured goods should be carried out in two phases. In the first, existing inventory statistics should be made as much use of as possible without commissioning new statistical surveys. Once shortcomings and defects in the existing statistics are identified and confirmed in the first phase, then new statistical surveys should be launched, with a view to increasing the number of samples or examining inadequate details. In the second phase, the statistics on wholesale and retail inventories in Seoul that are currently being compiled as part of the Survey on the Current Status of Wholesale and Retail Businesses in Seoul should be translated into and announced as short-term economic indicators so as to garner expert opinion and advice.
우리나라 재고통계보완을 위한 건의(안)우리나라 재고통계보완을
|Series Title; No||단기|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Industry and Technology < Others|
|Holding||KDI; KDI School|