BUSINESS S.Korea's ICT export keeps falling for 11 months to September

BUSINESS

S.Korea's ICT export keeps falling for 11 months to September

Xinhua

14:27, October 21, 2019

SEOUL, Oct. 21 (Xinhua) -- South Korea's export of information and communications technology (ICT) products kept falling for 11 straight months through September on the downturn of the global chip and display panel industries, a government report showed Monday.

SK chip fall down-AP.jpeg

(File photo: AP)

The ICT export tumbled 22 percent over the year to 15.81 billion U.S. dollars in September, continuing to slide since November last year, according to the Ministry of Trade, Industry and Energy.

Semiconductor shipment plunged 31.5 percent to 8.58 billion dollars in the month on the lower price and the weak demand for memory chips that offset a record monthly export of system chips at 2.44 billion dollars.

Display panel export dived 20 percent to 2.05 billion dollars on the global supply glut, but mobile phone shipment grew 2.8 percent to 1.18 billion dollars, marking the first rebound in 14 months after the launch of new smartphones.

The ICT exports to China and the United States, South Korea's top two trading partners, sank 33.1 percent and 13.5 percent each last month, but shipment to Vietnam and Japan advanced 7.1 percent and 17.2 percent respectively.

The ICT import grew 9.8 percent to 8.77 billion dollars in September, sending the trade surplus in the sector to 7.04 billion dollars. 


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