South Korean exports of information and communication technology(ICT) products fell for the sixth straight month in April due to weak demand for semiconductors and displays.
According to the Ministry of Trade, Industry and Energy, ICT exports dropped ten-point-six percent on-year last month to 15-point-two billion U.S. dollars.
The on-year decrease in ICT shipments widened from minus one-point-seven percent last November to minus 19 percent in February and minus 16 percent in March.
Exports of semiconductors plunged more than 13 percent from the same month last year to just below eight-point-six billion dollars. Falling prices for memory chips and slowing demand for system semiconductors are mainly to blame for the drop.
Shipments of displays also plunged over 16 percent to slightly over one-point-seven billion dollars last month due to intensifying competition with foreign rivals especially in LCD panels.