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Raw steel production in South Korea declines in 2016

The indicator negligibly diminished by 4.29% in comparison with the prior year, adjusted data from U.S. Geological Survey reveal. Steel production declined hardly by 3 000 thousand tonnes, as it follows the tendency of the previous year when it dropped by 1.46 percent. The overall changes for the prior 19 years reached a rise of 67.94%. Moreover, it has attained the compound annual growth rate of 0.11% over the last 5 years with a slight overall raise since the start of observations. It averaged 53 315.14 thousand tonnes from 1998 to 2016 and it hit its all-time high of 81 213 thousand tonnes in 2013 and record low of 39 321 thousand tonnes in 2012.

Raw steel production in South Korea declines in 2016
Date Thousand Tonnes Variation
2016 67 000.00 -4.29
2015 70 000.00 -1.46
2014 71 036.00 -12.53
2013 81 213.00 106.54
2012 39 321.00 -42.61
2011 68 519.19 16.3
2010 58 914.13 20.84
2009 48 752.00 -8.57
2008 53 322.00 3.5
2007 51 517.31 6.32

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