Affected by the sharp decline in semiconductor exports, South Korea's ICT exports have declined for eight consecutive months compared with the same period last year.
March 14 news, according to foreign media reports, the decline in demand for consumer electronic products, affecting not only electronic product manufacturers, semiconductors and other parts suppliers have also been affected, with Samsung Electronics and SK Hynix these two major semiconductor manufacturers in South Korea, also affected significantly, semiconductor exports fell sharply for many months in a row compared with the same period last year.
The latest data show that the sharp decline in exports of semiconductor products has also affected South Korea's exports of information and communication technology (ICT) products, which has declined for eight consecutive months compared with the same period last year after continuing to decline in February.
South Korean ICT exports in February were $12.8 billion, down from $18.9 billion in the same period last year and down 32 per cent from a year earlier, according to data released by South Korea's Ministry of Science and Information and Communications Technology.
According to foreign media reports, South Korea's exports of ICT products fell sharply in February because exports of almost all categories of products, such as semiconductors, panels, mobile phones, and so on, declined, but it was mainly affected by the decline in semiconductor exports.
Specifically, in February, South Korean semiconductor exports fell 41.5% from a year earlier to $6.1 billion; panel exports fell to $1.3 billion, down 42.2% from a year earlier; computer exports fell 58.6% from a year earlier to $650 million; mobile phone exports also fell 5.5% to $1 billion.
South Korea's ICT exports fell year-on-year, starting in July last year and falling for eight consecutive months in February. In the absence of a significant improvement in exports of semiconductors and other products, the year-on-year decline is likely to continue for some time.
