South Korea’s export of information and communications technology (ICT) products, dropped for the 11th successive month, due to the continued sluggish demand for locally-made tech products, government data showed, today.
The ICT products tumbled 28.5 percent from a year earlier to 14.45 billion U.S. dollars in May, continuing to slide since Jul last year, according to the Ministry of Trade, Industry and Energy.
Semiconductor export plunged 35.7 percent to 7.47 billion dollars last month, on the back of lower chip prices.
Display panel shipment retreated 12.0 percent to 1.60 billion dollars, and mobile phone export dipped 17.2 percent to 920 million dollars.
Shipment for computers and peripherals dived 53.1 percent to 830 million dollars, and communications equipment export, reduced 11.1 percent to 200 million dollars.
The ICT products shipment to Vietnam, the United States and the European Union all sank in double digits to 2.35 billion dollars, 1.77 billion dollars and 900 million dollars, respectively.
Import for ICT products shrank 11.2 percent over the year, to 11.20 billion dollars in May, sending the trade surplus in the ICT industry to 3.25 billion dollars.
Source: Nam News Network