SEOUL: South Korea’s exports of information communication technology (ICT) goods dropped 14.3 percent last month due mainly to a continued slump in sales of semiconductors and displays, government data showed Thursday. ICT exports reached $12.53 billion in April, down from $14.62 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy. Exports of ICT goods accounted for 30.5 percent of the country’s $41.05 billion worth of overall shipments abroad over the cited period.
South Korea’s overall exports have been in a deep slump for 20 straight months, posting an 11.2-percent on-year drop in April. Imports of foreign ICT products also fell 4.9 percent on-year to $7.27 billion last month, with the country logging a surplus of $5.26 billion in the sector.
The trade ministry said weak exports of display panels and semiconductors led the decline due to an oversupply and flaccid demand in the sectors. Shipments of flat screens sank 27.6 percent on-year to $2.13 billion and those of chips slid 11.8 percent on-year to $4.55 billion over the period. Overseas sales of mobile phones also contracted 7.9 percent to $2.15 billion on the waning impact of new smartphones releases. By region, shipments to China and Japan plunged 18.9 percent and 50.9 percent on-year, respectively, while those to the United States jumped 25.3 percent, the data showed.
