In September 2022, ICT exports exceeded $20 billion for the first time in three months since June, reaching $20.86 billion, accounting for more than 30% of total exports.

The Ministry of Science and ICT announced that while ICT exports in September 2022 decreased by 4.5% year-on-year, they reached $20.86 billion, and the trade balance achieved a surplus of $7.94 billion.

Imports amounted to $12.93 billion, up 13.7% from the same month last year.

Due to the slowdown in demand for IT devices caused by the worsening global economic conditions, major items such as semiconductors, displays, computers, and peripherals have decreased, but mobile phones are expected to turn to an increase due to the launch of new products.

Semiconductor exports in September increased 4.6% year-on-year.It recorded $11.67 billion, a decrease of 1%, and led the $10 billion mark for 17 consecutive months, but decreased for two consecutive months.

Memory semiconductor prices fell for the third consecutive month, the same as last month, due to a decline in demand from downstream industries and concerns about overstocking.

System semiconductors continued to grow due to continued demand for digital transformation, recording $4.5 billion, exceeding $4 billion for the fourth consecutive month and recording double-digit growth for 18 consecutive months.

Displays recorded $1.98 billion, down 18.6% year-on-year, due to a simultaneous decline in organic light-emitting diode (OLED) and liquid crystal display (LCD) demand caused by the decline in upstream industries.

Despite the expansion of small and medium-sized OLED panels for high-value-added mobile devices, OLED sales fell 16.5% year-on-year to $1.35 billion due to a high base effect in the second half of last year. LCD sales fell 27.3% to $350 million, impacted by reduced production and lower unit prices resulting from the accelerated transition to OLED.

September mobile phone exports rose 2.12% year-on-year to $1.46 billion, driven by a simultaneous increase in both finished and component products due to the launch of new products by major smartphone manufacturers.

Computers and peripherals recorded sales of $1.54 billion, down 20.2% year-on-year, falling for the third consecutive month as overall demand for IT devices decreased due to the global economic slowdown.

Among the five major countries, the United States and Japan showed increases, while China, Vietnam, and the European Union showed decreases due to the slowdown in global economic growth and reduced production of IT devices.

China recorded a 4.7% year-on-year decline of $9.65 billion in the first half of the year, marking the fourth consecutive month of decline, but the rate of decline was smaller, due to the impact of factory shutdowns and stagnant domestic demand caused by the lockdown in the Shanghai area. Vietnam saw a decline in semiconductors, displays, and mobile phones, while the United States saw increases in semiconductors and secondary batteries, marking a turnaround for the first time in three months. The European Union saw a 0.9% year-on-year decline, while Japan saw an 18.2% increase, reaching $440 million.