Although ICT exports in August 2022 decreased compared to the same month of the previous year due to the impact of the global economic slowdown, they maintained a share of over 30% of total exports and contributed to the growth of total exports.

The Ministry of Science and ICT announced that ICT exports in August 2022 recorded $19.31 billion, a 4.6% decrease compared to the same month of the previous year, and that exports accounted for 34.1% of total industrial exports.

Imports recorded $13.52 billion, an 18.7% increase compared to the same month of the previous year.

It was revealed that semiconductors, displays, mobile phones, and computers and peripherals all declined due to the impact of the global economic slowdown and the reduction in IT device production.

Semiconductor exports in August recorded $10.96 billion, a 6.8% decrease compared to the same month last year, marking a 16-month It drove $10 billion for the second consecutive month, but turned downward for the first time in 26 months.

Memory semiconductors recorded $5.75 billion, declining for the second consecutive month due to falling fixed transaction prices for memory, decreased demand from downstream industries, and concerns over excess inventory.

System semiconductors continued their growth driven by sustained demand for digital transformation, surpassing $4 billion for three consecutive months and recording double-digit growth for 17 consecutive months.

Display exports in August recorded $2.09 billion, down 5.3% from the same month last year, as organic light-emitting diode (OLED) exports fell by double digits due to contracting demand in downstream industries.

Although demand for organic light-emitting diodes for mobile displays remains strong, the market shifted to a decline, recording $1.26 billion, down 10.0% due to factors such as the high base effect in the second half of last year.

Mobile phone exports in August recorded $1.14 billion, down 3.3% from the same month last year, as exports of finished products declined significantly due to slowing smartphone demand.

Exports of computers and peripherals in July recorded $1.26 billion, a 25.3% decrease compared to the same month last year, marking a decline for the second consecutive month due to reduced demand for IT devices amid the global economic slowdown. In particular, Solid State Drives (SSDs) recorded $970 million, a 28.2% decrease year-on-year, falling below $1 billion for two consecutive months due to declining demand for electronic products.

Among the five major countries, the European Union saw an increase, while China, Vietnam, the United States, and Japan saw a decrease due to factors such as the slowdown in global economic growth and reduced IT device production.

China recorded $8.27 billion, down 14.4% from the same month last year, as factory shutdowns continued due to the lockdown in the Shanghai region during the first half of the year. The U.S. also saw a decline in major product categories, and Vietnam turned to a downward trend for the first time in 17 months. The European Union recorded $1.05 billion, up 4.7% from the same month of the previous year, marking 24 consecutive months of growth driven by secondary batteries ($260 million) and displays ($80 million).