SEOUL: South Korea’s exports of information and communication technology products fell 5.1 percent in June due mainly to a slump in sales of mobile phones and displays, government data showed Thursday ICT exports reached $13.48 billion last month, down from $14.21 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy. Exports of ICT goods accounted for 29.8 percent of the country’s $45.3 billion in overall shipments abroad over the cited period.
South Korea’s exports fell 2.7 percent in June, marking the 18th consecutive drop since the first month of last year due to a global slowdown and low oil prices. Imports of foreign ICT products edged down 1.1 percent on-year to $7.29 billion last month, with the country logging a trade surplus of $6.19 billion in the sector.
The trade ministry said weak exports of display panels and mobile phones led the decline due to oversupply and flaccid demand in the sectors. Shipments of flat screens plunged 24.4 percent on-year to $2.12 billion and those of mobile gadgets slid 8.3 percent on-year to $2.06 billion over the period.
Overseas sales of semiconductors also contracted 0.5 percent to $5.28 billion, narrowing from a 4.4-percent fall and 11.9 percent drop in May and April, respectively. By region, shipments to China and the European Union dipped 6.7 percent and 9.1 percent on-year, respectively, while those to Vietnam jumped 20.1 percent, the data showed.
