According to the data previously released by South Korea showed that due to the decline in demand, their exports of semiconductor products fell to US$5.96 billion in February, far less than the US$10.37 billion in the same period last year, a year-on-year decline of 42.5%.
Judging from the latest data, the export volume of South Korea’s semiconductor products improved in March, but the year-on-year decline has not yet reversed, far less than the same period last year.
Foreign media quoted data from the Ministry of Trade, Industry and Energy and the Customs Service of South Korea as reporting that exports of semiconductors in March were US$8.6 billion, up from US$5.96 billion in the previous month, an increase of 44.3% month-on-month.
Although the month-on-month increase was large, the export value of South Korea’s semiconductor products in March was still far below the US$13.12 billion in the same period last year, a year-on-year decrease of 34.5%, and the year-on-year decline for eight consecutive months.
Semiconductors are an important export product of South Korea, accounting for about 20% of South Korea’s overall exports for a long time. The decline in semiconductor exports will inevitably affect South Korea’s overall export status.
Data from the Korean Ministry of Trade, Industry and Energy and the Customs Service also show that in March this year, South Korea’s overall exports were US$55.13 billion, a year-on-year decrease of 13.6%, and imports were US$59.75 billion, a year-on-year decrease of 6.4%. trade deficit.