Shulou(Shulou.com)11/24 Report--

CTOnews.com, November 14, according to data released by South Korea's Ministry of Science and Technology Information and Communications on November 14, South Korea's information and communication technology (ICT) exports in October were 17.06 billion US dollars (CTOnews.com Note: currently about 124.367 billion yuan), down 4.5 percent from the same period last year, and has decreased for 16 consecutive months compared with the same period last year, but the decline was the lowest this year.

In terms of items, the export value of monitors increased by 13.1%, but the exports of semiconductors (- 4.7%), mobile phones (- 3.3%), computers and peripheral products (- 26.2%) and communications equipment (- 23.5%) all decreased compared with the same period last year. Semiconductor market exports were $8.97 billion, down 4.7% from a year earlier, but the decline fell to single digits for the first time this year. The export value of memory chips was US $4.51 billion, an increase of 1% over the same period last year. The export value of system chips was US $4.06 billion, down 7.4% from the same period last year.

In the same period, ICT imports were US $12.61 billion, down 8.3 per cent from the same period last year. As a result, preliminary statistics show that the trade balance of ICT has reached a surplus of 4.44 billion US dollars.

Semiconductors are the export backbone of South Korea's economy, and the Bank of Korea believes that if trade improvement is maintained, South Korea's economy will grow by 2.2% next year. This will be higher than the expected growth rate of 1.4% this year. South Korea's overall overseas shipments rose last month for the first time since the end of last year, a positive sign for South Korea's economic growth prospects and demand for a global economic recovery.

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