S. Korea's ICT products export keeps falling for 7th month in January

0 Comment(s)Print E-mail Xinhua, February 14, 2023
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SEOUL, Feb. 14 (Xinhua) -- South Korea's export of the information and communications technology (ICT) products kept falling for the seventh consecutive month in January due to global economic slump, government data showed Tuesday.

The ICT products shipment tumbled 33.2 percent from a year earlier to 13.1 billion U.S. dollars in January, continuing to slide since last July, according to the Ministry of Trade, Industry and Energy.

It was attributed to global economic slowdown and weaker demand for locally-made chips.

Semiconductor export plunged 43.5 percent over the year to 6.15 billion dollars in January on the back of increased inventory and lower product prices.

Mobile phone shipment expanded 24.4 percent to 1.41 billion dollars, but display panel export dropped 37.7 percent to 1.46 billion dollars.

The ICT products export to Vietnam, the United States, the European Union (EU) and Japan all sank in double digits to 2.31 billion dollars, 1.68 billion dollars, 0.88 billion dollars and 0.31 billion dollars, respectively.

Import for ICT products shed 1.1 percent over the year to 12.21 billion dollars in January, sending the trade surplus in the ICT industry to 0.89 billion dollars. Enditem

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