South Korean semiconductors exported US $11.4 billion in July, while exports of panel smartphones fell year on year.
According to foreign media reports, data released by South Korea's Ministry of Science and Information and Communication Technology show that South Korean ICT products exported 19.34 billion US dollars in July, down from 19.48 billion US dollars in the same period last year.
Despite a decline in exports, South Korea's imports of ICT products rose 16.8 per cent in July from a year earlier to $13.22 billion.
Data from South Korea's Ministry of Science and Information and Communications Technology also showed that in July, apart from the year-on-year growth in semiconductors, the largest proportion of their exports of information and communications products, key products, including panels, smartphones and computers, all declined.
Specifically, South Korean semiconductor products exported US $11.4 billion in July, up 3.1% from the same period last year, accounting for 58.8% of ICT exports; panel exports were US $2 billion, down 4.7% from the same period last year; smartphone exports were US $680 million, down 29.2% from the same period last year; and exports of computer-related products were US $1.2 billion, down 21.9% from the same period last year.
South Korea's Ministry of Science and Information and Communications Technology attributed the sharp decline in exports of mobile phones and computers to stagnant consumption caused by the global economic downturn, while fewer working days in July also affected exports.
South Korea, which is home to Samsung Electronics, LG Electronics, SK Hynix and other information and communication technology enterprises, is an important exporter of information and communication technology products in the world. Memory chips and panels are also important export commodities of South Korea, accounting for an important proportion of South Korea's exports.
