- Exports of Korean ICT goods total $15.2 billion in April 2019-05-22
The Ministry of Trade, Industry and Energy announced on May 21 that exports of the Korean information and communications technology (ICT) goods in April totaled USD 15.2 billion, down 10.6 percent compared to a year earlier.
Imports grew 9.4 percent to $9.5 billion, and the trade balance stood at a surplus of $5.7 billion.
Exports experienced year-on-year declines for six straight months because of a continuous slowdown in semiconductors and displays.
By item, shipments of semiconductors, displays, mobile phones, and computers all saw decreases.
Exports of semiconductors dropped 13.3 percent to $8.6 billion due to decreasing demand for chips used in servers and mobile phones and their falling prices.
The value of displays shipped abroad fell 16.2 percent to $1.7 billion. Despite increasing demand for organic light-emitting diode (OLED) panels, fiercer competition in the liquid-crystal display (LCD) market led to the decline.
Shipments of mobile phones edged down 0.1 percent to $1 billion. Even though parts exports slowed down, overseas demand for newly launched premium smartphones was robust.
Those of computers and peripheral devices shrank 33.1 percent to $584 million largely because of weaker demand for solid-state drives (SSDs) and their falling prices.
By region, Korean ICT exports to Vietnam and the U.S. increased while those to China, the EU, and Japan decreased.
Shipments to Vietnam advanced 14.3 percent to $2.2 billion, returning to growth after three months of contraction. This is attributable to increasing sales of semiconductors and mobile phones.
Exports to the U.S. improved 3.0 percent to $1.6 billion following improved sales of semiconductors and mobile phones.
Meanwhile, those to China fell 15.7 percent to $7.9 billion due to fewer shipments of semiconductors, displays, and computers and peripheral devices.
Korean ICT goods shipped to the EU slipped 3.6 percent to $867 million. While exports of secondary batteries expanded, those of semiconductors and displays contracted.
Exports to Japan dropped 6.4 percent to $310 million. The decline was led by semiconductors and computers and peripheral devices.
For imports, semiconductors and mobile phones increased, but displays and computers and peripheral devices decreased.
The value of semiconductors shipped to Korea jumped 19.2 percent to $4.2 billion. Imports of system chips advanced, but those of memory chips dwindled.
Imports of displays fell 31.3 percent to $407 million. Despite growth seen in inbound shipments of OLED panels, fewer LCD panels, and display parts were delivered to Korea.
Inbound shipments of computers and peripheral devices dropped 12.6 percent to $985 million.
Imports of mobile phones reached $711 million, experiencing an increase of 11.8 percent.
By import origin, shipments from Vietnam grew while those from China, Japan, and the U.S. contracted.
The value of ICT goods delivered from Vietnam went up 22.7 percent to $849 million, driven by mobile phones.
Inbound shipments from China, on the other hand, slid 4.2 percent to $3.5 billion. Decreased imports were seen in semiconductors, mobile phones, and displays.
Those from Japan went down 7.8 percent to $851 million due to lower domestic demand for semiconductors and electrical equipment.
Imports from the U.S. declined 7.6 percent to $733 million mainly because of decreased inbound shipments of semiconductors.