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S. Korea's ICT export keeps falling for 9th month in March

SEOUL
2023-04-13 13:31

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SEOUL, April 13 (Xinhua) -- South Korea's export of information and communications technology (ICT) products kept falling for the ninth consecutive month owing to weaker demand for locally-made semiconductors, government data showed Thursday.

The ICT products shipment dropped 32.2 percent from a year earlier to 15.78 billion U.S. dollars in March, continuing to slide since July last year, according to the Ministry of Trade, Industry and Energy.

It marked the fastest reduction in over 14 years since January 2009.

Semiconductor export plunged 33.9 percent to 8.73 billion dollars last month on the back of lower chip prices.

Display panel shipment tumbled 41.4 percent to 1.43 billion dollars, and mobile phone export dipped 49.3 percent to 830 million dollars.

The ICT products shipment to Vietnam, the United States and the European Union all sank in double digits to 2.8 billion dollars, 1.9 billion dollars and 0.99 billion dollars respectively.

Import for ICT products shrank 7.9 percent over the year to 11.85 billion dollars in March, sending the trade surplus in the ICT industry to 3.93 billion dollars.
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