BUSINESS S.Korea's ICT export falls for 13 months to November

BUSINESS

S.Korea's ICT export falls for 13 months to November

Xinhua

21:06, December 22, 2019

SEOUL, Dec. 22 (Xinhua) -- South Korea's export of the information and communications technology (ICT) products fell for 13 straight months to November on weak demand for locally-made chips, display panels and mobile phones, a government report showed Sunday.

The ICT export tumbled 21.8 percent from a year earlier to 14.31 billion U.S. dollars in November, continuing to dip for the 13th consecutive month since November last year, according to the Ministry of Trade, Industry and Energy.

Import in the ICT sector reduced 6.9 percent to 9.09 billion dollars, sending the trade surplus to 5.22 billion dollars.

Semiconductor shipment plunged 30.7 percent to 7.48 billion dollars on the back of lower memory chip price and weaker demand for system chips.

Display panel export retreated 25.0 percent to 1.71 billion dollars on soft demand for organic light-emitting diode (OELD) panels and lower price for liquid crystal display (LCD) panels.

Mobile phone shipment inched down 0.9 percent to 1.02 billion dollars amid the continued growth in the production at overseas factories.

TV shipment advanced 16.2 percent, with export for computer and other peripherals jumping 22.4 percent in the month.

The ICT export to China, South Korea's biggest trading partner, dropped 21.0 percent, with shipments to Vietnam and the United States sliding in double figures.

Export of ICT products to the European Union (EU) slipped last month, but shipment to Japan inched up 0.2 percent on demand for chips and secondary batteries.

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(Photo: VCG)

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