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Brunei
Monday, January 30, 2023
27.3 C
Brunei
Monday, January 30, 2023
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    South Korea’s ICT products export falls for fifth month in November

    SEOUL (XINHUA) – South Korea’s export of the information and communications technology (ICT) products kept falling for the fifth consecutive month through November, government data showed yesterday.

    The ICT products shipment decreased 22.5 per cent over the year to USD16.66 billion in November, according to the Ministry of Trade, Industry and Energy.

    Global demand for locally-made tech products weakened amid rising worry about global economic downturn.

    Semiconductor export dropped 28.4 per cent to USD8.66 billion last month due to lower prices for memory chips.

    Display panel shipment retreated 17.3 per cent to USD2.01 billion, and mobile devices export shrank 6.2 per cent to USD1.38 billion in November.

    The ICT products export to Vietnam, the United States, the European Union and Japan all diminished in double digits to USD3.0 billion, USD1.84 billion, USD960 million and USD310 million respectively.

    Import for ICT products rose 0.6 per cent from a year earlier to USD12.84 billion in November, keeping an upward trend for the 30th straight month on the back of the local currency’s depreciation to the greenback.

    Trade surplus in the ICT sector came to USD3.82 billion in November, down from a surplus of USD8.72 billion tallied in the same month of last year.

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