ID :
49006
Thu, 03/05/2009 - 05:03
Auther :
Shortlink :
https://www.oananews.org//node/49006
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(LEAD) S. Korean IT exports sink 23.9 pct in Feb.
SEOUL, March 4 (Yonhap) -- South Korean exports of information technology (IT) products plunged 23.9 percent on-year in February as the worldwide economic slump weakened overseas demand, a government report showed Wednesday.
Exports of semiconductors, mobile phones and other IT products reached US$7.73
billion last month, with imports dropping 32.1 percent to $3.94 billion for a
surplus of $3.79 billion, according to the report by the Ministry of Knowledge
Economy.
"February marked the fifth straight month since October that growth of IT exports
declined on an annual basis, but the rate of the fall has decreased compared to
the previous months," said ministry official Seo Seok-jin.
He said sluggish sales can be attributed to a sharp drop in demand for various
electronic appliances such as computers, digital TV sets and mobile communication
devices.
In November and December, IT exports decreased 32.6 percent and 39.2 percent,
respectively, compared to the year before, with January's overseas shipments
nose-diving 38.6 percent.
The IT sector logged an overall trade surplus for February, however, contributing
to an overall trade surplus of $3.29 billion for that month, Seo added.
According to the report, overseas shipments of mobile phones edged up 2.4 percent
on-year to $2.39 billion in February, fueled by demand in the North American and
Chinese markets.
Semiconductor exports tumbled 40.6 percent annually to $1.54 billion, marking the
eighth straight month that exports for the product have contracted, with display
shipments dropping 23.9 percent to $1.50 billion.
The ministry predicted that future performances of IT exports will depend on
conditions in the global semiconductor and panel markets that make up the bulk of
overseas shipments.
Related to future prospects, analysts from think tanks such as the Institute for
Information Technology Advancement and KTB Securities Co. claimed earlier
predictions of the global IT sector making a recovery in the second half may have
been premature.
The experts said that demand may not fully pick up until the second half of 2010
since there is still considerable production overcapacity for memory chips and
other products.
yonngong@yna.co.kr
(END)
Exports of semiconductors, mobile phones and other IT products reached US$7.73
billion last month, with imports dropping 32.1 percent to $3.94 billion for a
surplus of $3.79 billion, according to the report by the Ministry of Knowledge
Economy.
"February marked the fifth straight month since October that growth of IT exports
declined on an annual basis, but the rate of the fall has decreased compared to
the previous months," said ministry official Seo Seok-jin.
He said sluggish sales can be attributed to a sharp drop in demand for various
electronic appliances such as computers, digital TV sets and mobile communication
devices.
In November and December, IT exports decreased 32.6 percent and 39.2 percent,
respectively, compared to the year before, with January's overseas shipments
nose-diving 38.6 percent.
The IT sector logged an overall trade surplus for February, however, contributing
to an overall trade surplus of $3.29 billion for that month, Seo added.
According to the report, overseas shipments of mobile phones edged up 2.4 percent
on-year to $2.39 billion in February, fueled by demand in the North American and
Chinese markets.
Semiconductor exports tumbled 40.6 percent annually to $1.54 billion, marking the
eighth straight month that exports for the product have contracted, with display
shipments dropping 23.9 percent to $1.50 billion.
The ministry predicted that future performances of IT exports will depend on
conditions in the global semiconductor and panel markets that make up the bulk of
overseas shipments.
Related to future prospects, analysts from think tanks such as the Institute for
Information Technology Advancement and KTB Securities Co. claimed earlier
predictions of the global IT sector making a recovery in the second half may have
been premature.
The experts said that demand may not fully pick up until the second half of 2010
since there is still considerable production overcapacity for memory chips and
other products.
yonngong@yna.co.kr
(END)
