Off the wire
• Xinhua China news advisory -- Dec. 15  • Market exchange rates in China -- December 15  • Chinese offer for Lucas Lima "impossible to refuse," says agent  • Trauco: Flamengo move "biggest challenge of my life"  • Chinese yuan weakens to 6.9289 against USD Thursday  • China treasury bond futures open lower Thursday  • One of Australia's largest shoe retailers forced into administration  • Chinese shares open lower Thursday  • China Hushen 300 index futures open lower Thursday  • Aussie warplanes hitting more IS targets after changes to war crimes bill  
You are here: 　 Home

S. Korean ICT exports rebound in 14 months despite weak smartphone demand

Xinhua, December 15, 2016 Adjust font size:

South Korean exports of information and communications technology (ICT) products posted the first rebound in 14 months despite weak demand for smartphones that was offset by brisk exports of chips and display panels, a government report showed on Thursday.

The ICT exports increased 3.3 percent from a year earlier to 14.8 billion U.S. dollars in November, according to the Ministry of Trade, Industry and Energy (MOTIE).

Imports in the ICT sector inched up 0.5 percent to 8.08 billion dollars, sending the ICT trade surplus to 6.72 billion dollars that contributed the most to an 8 billion-dollar surplus in all industries.

Mobile phone exports tumbled 27.4 percent to 2.09 billion dollars as Samsung Electronics discontinued its latest Galaxy Note 7 smartphones on global reports of the devices catching fire and overheating.

However, chip exports expanded 11.6 percent to 5.79 billion dollars, posting the double-digit increase in 22 months thanks to higher product prices and strong demand.

Display panel shipments grew 3.1 percent to 2.47 billion dollars, the first rebound in 16 months on demand for OLED panels. Exports of computer and peripherals jumped 15.2 percent to 660 million dollars.

By country, ICT product shipments to Vietnam soared 42.2 percent to 1.38 billion dollars, with those to the United States rising 4.9 percent to 1.48 billion dollars.

Exports to China, South Korea's largest trading partner, reduced 3.6 percent, with those to the European Union (EU) falling 1.9 percent. Endit