According to foreign media reports, the decline in demand for consumer electronics products, affecting not only electronic product manufacturers, suppliers of components such as semiconductors have also been affected, with Samsung Electronics and SK Hynix, the two major semiconductor manufacturers in South Korea, also affected significantly, the export value of semiconductors for many months in a row, a significant decline year-on-year.
The latest data shows that the sharp decline in the export of semiconductor products has also affected the export of South Korea’s information and communication technology (ICT) products. After continuing to decline in February, it has declined year-on-year for eight consecutive months.
According to data released by the Ministry of Science and Information and Communication Technology of South Korea, in February this year, the export value of South Korea’s ICT products was 12.8 billion US dollars, far less than the 18.9 billion US dollars in the same period last year, a year-on-year decline of 32%.
According to foreign media reports, the export value of South Korea’s ICT products fell sharply in February, because the export value of almost all categories of products such as semiconductors, panels, and mobile phones has declined, but it is mainly due to the decline in semiconductor exports.
Specifically, South Korea’s exports of semiconductor products in February were US$6.1 billion, down 41.5% year-on-year; panel exports fell to US$1.3 billion, down 42.2% year-on-year; computer exports fell 58.6% year-on-year to US$650 million ; Exports of mobile phones also fell 5.5 percent to $1 billion.
The year-on-year decline in the export value of South Korea’s ICT products began in July last year, and it has declined year-on-year for eight consecutive months since February. In the absence of a significant improvement in the export of products such as semiconductors, the year-on-year decline may continue for some time.