- Korean ICT industry exports goods worth $15.2 billion in August 2019-09-24
The Ministry of Trade, Industry and Energy announced on September 22 that the Korean industry of information and communications technology (ICT) exported goods worth USD 15.2 billion in August, down 24.5 percent from a year earlier.
Meanwhile, ICT imports inched up 1.9 percent to $8.8 billion, and the trade balance saw a surplus of $6.4 billion.
A breakdown of exports showed that outbound shipments of semiconductors, displays, mobile phones, and computers and peripheral devices all saw year-on-year decreases.
Semiconductor exports fell 30.5 percent to $8.1 billion due to lower prices of memory chips and less demand for system chips.
Shipments of displays contracted 26.7 percent to $2.2 billion as a result of falling prices of liquid crystal display (LCD) panels and decreasing demand for organic light-emitting diode (OLED) panels used in mobile phones.
The value of mobile phones shipped overseas amounted to $1.1 billion, down 18.2 percent. The stagnant global smartphone market and the increasing number of products manufactured overseas led to decreases in exports of both finished products and parts.
Exports of computers and peripheral devices went down 30.6 percent to $679 million. While exports of computers improved 23.2 percent to $145 million, those of solid state drives (SSDs) declined 34.2 percent to $380 million.
Regionally, shipments to Vietnam and Japan increased, but those to China, the U.S., and the EU decreased.
Exports to Vietnam experienced a slight growth of 1.1 percent to $2.8 billion, increasing for five months in a row. Items that saw increases were semiconductors (up 8.9 percent to $1.1 billion) and mobile phones (up 21.9 percent to $260 million).
Shipments to Japan inched up 1.8 percent to $325 million. Shipments of displays moved up 17.1 percent to $20 million, but those of semiconductors contracted 4.2 percent to $100 million. Exports of computers and peripheral devices shrank 33.7 percent to $20 million.
Exports to China dropped 32.6 percent to 7.4 billion due to decreased exports of semiconductors (down 35.8 percent to $5.0 billion), displays (down 27.9 percent to $970 million), and computers and peripheral devices (down 30.2 percent to $300 million).
ICT exports bound for the U.S. decreased 14.6 percent to $1.5 billion, following declined exports of semiconductors (down 12.9 percent to $550 million), mobile phones (down 31.8 percent to $280 million), and computers and peripheral devices (down 2.4 percent to $190 million).
The value of Korean ICT goods sold to the EU declined 15.3 percent to $876 million. While sales of secondary batteries gained 8.2 percent to $240 million, those of semiconductors and mobile phones decreased 20.5 percent to $200 million and 16.1 percent to $30 million, respectively.
For imports, inbound shipments of semiconductors and mobile phones increased, but those of displays and computers and peripheral devices decreased.
Semiconductor imports rose 1.9 percent to $3.9 billion. Inbound shipments of system chips decreased 4.7 percent to $1.8 billion, and those of memory chips rose 12.9 percent to $1.5 billion.
Imports of mobile phones expanded 15.3 percent to $773 million as parts imports grew 26.7 percent to $610 million.
Inbound shipments of displays dropped 45.3 percent to $337 million because imports of LCD panels and other parts fell 71.8 percent to $110 million and 12.2 percent to $110 million, respectively. Imports of OLED panels, on the other hand, surged 33.2 percent to $110 million.
Imports of computers and peripheral devices added up to $797 million, down 17.8 percent. Computers imported to Korea edged down 0.5 percent to $482 million and peripheral devices fell 35.0 percent to $315 million.
By import origin, shipments from Vietnam and the U.S. expanded while those from China and Japan contracted.
Imports from Vietnam leaped 30.2 percent to $907 million, led by mobile phones (up 48.3 percent to $540 million).
ICT goods delivered from the U.S. totaled $677 million, up 5.2 percent. Exports of computers and peripheral devices jumped 26.8 percent to $50 million and those of mobile phones grew 7.1 percent to $10 million.
Shipments from China dropped 16.4 percent to $2.9 billion due to decreased sales of semiconductors (down 33.9 percent to $910 million) and displays (down 66.3 percent to $100 million).
Imports from Japan went down 4.9 percent to $838 million mostly because of displays (down 10.3 percent to $80 million).