- Exports of ICT goods in March reach $15.9 billion 2019-04-22
The Ministry of Trade, Industry and Energy announced on April 22 that Korean exports of information and communications technology (ICT) goods in March decreased 16.3 percent year-on-year to USD 15.9 billion.
Imports inched up 1.4 percent to $9.2 billion, and the trade balance stood at a surplus of $6.7 billion.
The fifth consecutive monthly decline in exports was mainly due to slowing sales of semiconductors, displays, mobile phones.
By item, shipments of semiconductors, displays, mobile phones, and computers all experienced decreases.
Exports of semiconductors went down 16.9 percent to $9.1 billion as a result of falling demand for chips used in servers and mobile phones and their declining prices.
Those of displays dropped 22.4 percent to $1.7 billion due to falling prices of liquid-crystal display (LCD) panels and lower demand for organic light-emitting diode (OLED) panels.
The value of mobile phones shipped overseas fell 33.0 percent to $914 million. The stagnant smartphone market and a slowdown in exports of phone parts contributed to this contraction.
Shipments of computers and peripheral devices also slid 36.8 percent to $692 million. This is largely attributable to decreasing demand for solid-state drives (SSDs) and their falling prices.
By region, Korean ICT exports to the EU increased while those to China, Vietnam, the U.S., and Japan decreased.
Shipments to the EU edged up 0.5 percent to $956 million on the back of rising sales of secondary batteries and semiconductors.
Exports to China went down 21.6 percent to $8.1 billion because of declining demand for semiconductors, displays, and computers and peripheral devices.
Those to Vietnam fell 7.0 percent to $2.3 billion due to fewer shipments of semiconductors, displays, and mobile phones.
Korean ICT goods shipped to the U.S. saw a decrease of 4.9 percent to $1.7 billion. While exports of semiconductors expanded, those of mobile phones and computers and peripheral devices contracted.
Exports to Japan dropped 18 percent to $349 million. Decreases were seen in shipments of semiconductors and mobile phones.
For imports, semiconductors advanced while displays, mobile phones, and computers and peripheral devices shrank.
The value of semiconductors shipped to Korea gained 4.8 percent to $4.0 billion. Imports of system chips decreased, but those of memory chips increased.
Imports of displays slowed down 33.6 percent to $402 million as fewer display parts and LCD panels delivered. Those of OLED panels, however, recorded growth.
Inbound shipments of computers and peripheral devices fell 14.6 percent to $1 billion. Computers were in greater demand, but imports of peripheral devices declined.
Imports of mobile phones reached $784 million, experiencing a slight decrease of 3.3 percent. While inbound shipments of phone parts increased, those of finished products decreased.
By import origin, shipments from Vietnam and the U.S. grew while those from China and Japan contracted.
The value of ICT goods delivered from Vietnam went up 12.1 percent to $880 million, led by mobile phones.
Inbound shipments from U.S. inched up 1.1 percent to $749 million mostly because of ICT-based devices.
Those from China, on the other hand, went down 16.3 percent to $3.2 billion due to semiconductors, mobile phones, and displays.
Imports from Japan declined 15.5 percent to $875 million as a result of semiconductors and displays.