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S. Korea's ICT export falls for 16th month in October

SEOUL
2023-11-14 13:04

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SEOUL, Nov. 14 (Xinhua) -- South Korea's export of information and communications technology (ICT) products fell for the 16th consecutive month amid the continued weakness in global demand for locally-made tech products, government data showed Tuesday.

The ICT products shipment shrank 4.5 percent from a year earlier to 17.06 billion U.S. dollars in October, continuing to slide since July last year, according to the Ministry of Trade, Industry and Energy.

Semiconductor export declined 4.7 percent to 8.97 billion dollars last month despite higher memory chip prices.

Display panel shipment advanced 13.1 percent to 2.29 billion dollars on demand for OLED panels used for mobile devices, but mobile phone export reduced 3.3 percent to 1.5 billion dollars.

Shipment for computers and peripherals dived 26.2 percent to 760 million dollars, and communications equipment export retreated 23.4 percent to 200 million dollars.

The ICT products export to the United States and the European Union decreased in double figures, but shipment to Vietnam inched up 0.3 percent last month.

Import for ICT products diminished 8.3 percent over the year to 12.61 billion dollars in October, sending the trade surplus in the ICT industry to 4.45 billion dollars.

Import for chips, computers and mobile phones all declined last month.
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