The Monthly Survey of
Mining and Manufacturing
2011. 12
Ⅰ. Monthly Economic Statistics
Survey Title
Number of
Survey Period
Survey
objects
Monthly Survey of Construction Orders
Received and Value of Construction 1~18th/1~22nd
Completed
Monthly survey of Mining and
1~19th
Manufacturing
Monthly Survey of Machinery Orders
5~19th
Received
Survey Method
1,766
Interview, Electronic
8,000
Interview, Electronic
145
Interview, Electronic
Current Cyber Shopping Survey
1~22nd
1,011
Interview, Electronic
Current Service Industry Survey
1~20th
9,200
Interview, Electronic
Consumer Price Survey
1~2nd
23,000
Interview, Other
Current E-Commerce Survey
15th~31st
1,682
Interview, Electronic
Ⅱ. Overviews of IIP
1. Characteristics of the Current Index
• To reflect the structural changes quickly in the Korean
economy, the Index of Industrial Production was revised in 2008
based on the results of the Mining and Manufacturing Survey
in 2005 as the population data.
• Some major changes in compiling the IIP as a base year of
2005 :
(1) the base year transferred from 2000 to 2005.
(2) the weight calculated based on the results of the 2005
annual survey
(3) the representative products reduced from 647 to 633
2. Scope of the index
• The industrial sectors included in the IIP are mining,
manufacturing, and electricity and gas industries, in accordance
with the Korean Standard Industrial Classification(KSIC).
3. Base Year
• The base year is 2005 for all comparisons and the weights
4. Representative Series
The representative prodcuts were selected by taking into account
the availability of monthly data, the stability of production volume
and the importance in each industrial group. The selection has
also been made with a view to ensuring a higher degree of
representation for each product group.
(A) The Criteria for Selection of Representative Series :
The series were selected by the principle of proportionately
heightening the degree of representation within each group.
The number of items and the degree of representation by group
are given in the following table.
(B) Types of Products
The type of Products for the compilation of the index is in principle,
physical outputs in quantity. However, there are items which are
not readily measured in quantity or cannot be simply added
together due to differences in units.
Therefore, 104 items such as cosmetics, clothing, vehicle parts
among the representative items were measured with values.
Indexes of those items were compiled, after the current values were
deflated with the indexes of producers' prices.
Degree of representation by product group
Degree of representation by product group
5. Weight
The weight of the IIP means the importance of an individual
industry or an item in relation to the total industries.
Thus, the changes observed in the output of the industrial series or
their groups reflects the changes of their importance in the total
industrial production according to the weight of the series.
The criterion for fixing weight is the value-added or the net output
which determines the degree of contribution to the Net National
Product in the base year.
(A) Value-added
Needed for each series in the index is a weight that counts only
the value-added by the production which is being measured.
Thus, the weight applied to the assembling of automobiles
should reflect only the value-added in this particular process and
should exclude the value of steel, tires and other components
incorporated in the cars.
Most of the weights for individual industrial production series are
based on data from the 2005 Mining and Manufacturing Survey,
which adopt the concept of the value of products less purchased
inputs. Using Net Value Added, the value-added of individual
production series is calculated
(B) Enlargement of Weight
The weight of items not selected are proportionally allocated to
each selected item within each of the 5 digits classification of the
Korean Standard Industrial Classifications.
6. Formula of Index Computation
Second, all of the previous indexes were converted to 2000 based indexes simply by multiplying the linking coefficient to those
indexes.
7. Index Linking
The linking of index series of 1975~2004 based on 2000 to
those of 2005 was achieved by the following process:
First, if some items were transferred to other industries as a
result of the revised Korean Standard Industrial classification,
each former industrial index was adjusted in accordance with
the new industrial classification.
Second, all of the previous indexes were converted to 2000
based indexes simply by multiplying the linking coefficient to
those indexes.
100.0
linking coefficient
average index of 2005
based on 2005 =
Based on 2000
Ⅱ. Sampling and Data collection
1. Sampling
Population
Establishments surveyed
Sampling
• More then 2p employees
Economy
Census
(Annual Survey)
(More than 10 employees in some region)
• more than Sales on average by product
•
Maintaining the establishments
• complete enumerates
SubPopulation
By Product
By Region
- less than 20 establishments per product
• sample survey
Product
- complete survey in case the establishment
have more than 100 employees
- cut-off sample survey in case
Regional
Product
the establishment have less than 100
•
Maintaining the establishments
Ⅳ. Outline of the Monthly survey
Mining and Manufacturing
1. Purpose
• To provide basic data for analyzing monthly economic trends,
estimating GDP and GRDP, and measuring labor productivity by
indexing changes in the production, shipment and inventory of
Mining, Manufacturing, Electricity &Gas Supply and Publishing
industries.
• To provide basic data on the current status and forecast of
supply &demand of selected items by measuring the production,
shipment and inventory of surveyed items
• To produce the Production Capacity Index which represents the
production capacity of major items in the Manufacturing industry
and the Operation Ratio Index which represents how much
equipment is being used.
2. History
• Aug. 1957: Produced the Industrial Production Index of 1955 for the
first time (the Bank of Korea)
• Index revision as of 1958 and 1960
• Drew up special classification indices from 1965
• Drew up the shipment Index from 1966(Korea Development Bank)
• Jan. 1969: Transferred the Survey to the Korea Development Bank
• Jul. 1970: Transferred the Survey to the National Bureau of Statistics,
Economic Planning Board (the predecessor of the Statistics Korea)
～
• Feb. 2008: Index revision as of 2005
• Jul. 2008: Integrated the Survey of Manufacturing Production Capacity
&Operation Ratio
• Oct. 2008: Changed the survey title into "Monthly Survey of Mining
and Manufacturing"
3. Work Flow
21
말일-당월
4일
매월
5일-19일
매월
20일
매월
20일-23일
매월
23일-26일
매월
27일-30일
Maintaining
establishments
Survey &
Data input
 Managing the changes of the establishments
 About 8000 establishments including CASI
 Data review
Making the IIP
Prelimenarily
Calculating IIP prelimenary
 Analysis the data
Volume Review
 Double checking
 Volume checking by products
IIP confirmed &
Analysis
 Confirming IIP and regional IIP
 Analysis by product and Industry
Announcement
 Release announcements
5. Compiling IIP
◦ Using our own Program, We compile the IIP through our own
program.
◦
Thank you!