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S. Korea's ICT exports fall for 1st time in 3 months on weak global demand

Xinhua, August 11, 2015 Adjust font size:

South Korea's exports of information and communications technology (ICT) products reduced for the first time in three months due to the weak global demand, a government report showed Tuesday.

The country's tech exports declined 3.9 percent from a year earlier to 13.71 billion U.S. dollars in July, according to the Ministry of Trade, Industry and Energy.

The ICT imports gained 5.8 percent to 7.57 billion dollars in the cited period, but trade surplus in the sector stood at 6.14 billion dollars.

Outlook for global ICT demand remained dim. According to market researcher Gartner, the global ICT market was estimated at declines of 1.3 percent in the first quarter and 5.5 percent in the second quarter respectively.

Except for the semiconductor, exports of all ICT products reduced last month. Chip exports advanced 6.2 percent thanks to demand for application processors (AP) used for mobile phones that jumped about 20 percent in July.

Exports of display panels and mobile phones posted a double- digit slump last month, with those for digital TVs tumbling 25.4 percent in July from a year earlier.

Imports of mobile phones surged 37.5 percent on-year in July due to robust demand for Apple's iPhone models and growth in imports of mobile phone components. Endi