S. Korea's ICT export falls for 15th month in September

S. Korea's ICT export falls for 15th month in September

Oct 16, 2023

Seoul [South Korea], October 16: South Korea's export of information and communications technology (ICT) products fell for the 15th consecutive month in September amid continued weakness in global demand for locally-made tech products, government data showed Monday.
ICT products shipment sank 13.4 percent from a year earlier to 18.06 billion U.S. dollars in September, continuing to slide since July last year, according to the Ministry of Trade, Industry and Energy.
Semiconductor export declined 14.4 percent to 9.99 billion dollars last month on the back of lower chip prices.
Display panel shipment added 1.0 percent to 2.0 billion dollars on demand for OLED panels used for mobile devices, but mobile phone export reduced 5.2 percent to 1.37 billion dollars.
Shipment for computers and peripherals dived 48.0 percent to 800 million dollars, and communications equipment export decreased 17.2 percent to 220 million dollars.
ICT products shipment to the United States, the European Union (EU) and Japan retreated in double digits, but export to Vietnam gained ground last month.
Import for ICT products dropped 16.8 percent over the year to 10.76 billion dollars in September, sending trade surplus in the ICT industry to 7.3 billion dollars.
Import for chips, computers and mobile phones all declined in double figures last month.
Source: Xinhua