In the case of declining demand for consumer electronics products and memory chips, which led to a decline in both shipments and prices, the export value of South Korea's semiconductor products has also declined since August. It has declined year-on-year for three consecutive months.
Although the export value of South Korea's semiconductor products has declined year-on-year for three consecutive months, their exports of semiconductor products this year are still considerable.
Judging from foreign media reports, data released by the Korea International Trade Association on Monday local time showed that in the first three quarters of this year, the export value of South Korea's semiconductor products has reached 102.5 billion US dollars. On average, the monthly export value of Korean semiconductor products reached 11.389 billion US dollars.
However, data released by South Korea's Ministry of Trade, Industry and Energy at the beginning of this month showed that South Korea's exports of semiconductor products fell 17.4% year-on-year in October to $9.23 billion, less than the previous month's $11.49 billion.
If South Korea's exports of semiconductor products do not increase in November and December compared to October, their export value of semiconductor products this year may be lower than US$130 billion.
The semiconductors exported by South Korea are mainly memory chips. They have two major memory chip manufacturers, Samsung Electronics and SK Hynix. Semiconductors are an important export commodity in South Korea, accounting for about 20% of their exports. Semiconductor product exports also have an important impact on their overall export status.
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