S. Korea's ICT products export keeps falling for 8th month in February-Xinhua

S. Korea's ICT products export keeps falling for 8th month in February

Source: Xinhua| 2023-03-14 10:25:30|Editor: huaxia

SEOUL, March 14 (Xinhua) -- South Korea's export of information and communications technology (ICT) products kept falling for the eighth consecutive month due to weaker demand for locally-made semiconductors, government data showed Tuesday.

The ICT products shipment dropped 32.0 percent over the year to 12.82 billion U.S. dollars in February, continuing to slide since July last year, according to the Ministry of Trade, Industry and Energy.

Semiconductor export plunged 41.5 percent to 6.11 billion dollars last month on the back of lower chip prices.

Display panel shipment tumbled 42.2 percent to 1.3 billion dollars, and mobile phone export shrank 5.5 percent to 1.03 billion dollars.

The ICT products shipment to Vietnam, the United States, and the European Union (EU) all sank in double digits to 2.11 billion dollars, 1.65 billion dollars, and 0.93 billion dollars respectively.

Import for ICT products shed 3.6 percent over the year to 11.0 billion dollars in February, sending the trade surplus in the ICT industry to 1.82 billion dollars.