Korea's October exports of ICT products fall to $17.9 billion

Under the influence of increasing concerns about the global economic downturn, the demand for consumer electronics products has declined, and the export of Korean information and communication technology products has also been affected.

According to the latest data released by the Korean Ministry of Science and Information and Communication Technology, the export value of Korean information and communication technology products in October fell by 10.3% year-on-year to US$17.9 billion, which was lower than the US$20 billion in the same period last year.

South Korea's exports of information and communication technology products fell significantly in October, which means that exports of many product categories have declined. According to data released by the Ministry of Science and Information and Communication Technology of South Korea, the export value of major products has declined.

Specifically, semiconductor products, which accounted for more than half of the export value of information and communication technology products, had an export value of US$9.4 billion in October, a year-on-year decrease of 16.2%; panel exports were US$2 billion, a year-on-year decrease of 9.6%; computer exports It was US$1 billion, down 30.9% year-on-year.

Among information and communication technology products, only the export value of smartphones increased year-on-year. South Korea's smartphone exports hit $1.6 billion in October, up 13 percent year-on-year, driven by rising demand for high-end smartphones.

Although South Korea's exports of information and communication technology products fell year-on-year in October, they still had a trade surplus in this sector. In October, South Korea's imports of information and communication technology products totaled US$13.8 billion, a year-on-year increase of 13.6%.

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