The global economic slowdown and sluggish semiconductor industry continue. Amidst this continued decline, ICT exports in January 2023 recorded US$13.1 billion, a significant decrease from US$19.61 billion in the same month the previous year.

The Ministry of Science and ICT announced on the 14th that ICT exports in January 2023 reached $13.1 billion, a 33.2% decrease from the same month last year, and the trade balance achieved a surplus of $890 million.

Imports amounted to $12.21 billion, down 1.1% from the same month last year.

The main item, mobile phones, increased by 24.4%, but semiconductors, displays, computers and peripherals decreased. Compared to last year's trade balance of $72.7 billion, this year's deficit was barely avoided with a trade deficit of $890 million.
Semiconductor exports in January fell 43.5% year-on-year to $6.15 billion, reflecting the impact of the global economic slowdown.

Memory semiconductor sales reached $2.77 billion, with contract prices falling sharply due to slowing demand for DRAM and NAND and continued inventory buildup. This marked the seventh consecutive month of decline, following last year.

System semiconductors recorded a 25% decrease to $2.9 billion, ending 32 consecutive months of growth and turning to a decline as foundries and fabless businesses were also hit by the sluggish semiconductor industry.

Display sales were significantly impacted by the sluggish OLED market, driven by the impact of reduced domestic LCD production and slowing demand for front-end devices. Sales fell 37.7% year-on-year to $1.46 billion.

OLED sales fell 31.3% to $960 million, driven by declining demand in Vietnam and China, where mobile display demand is concentrated. LCD sales fell 44.5% to $300 million, impacted by continued price declines and production suspensions.

Mobile phone exports in January recorded triple-digit growth, centered on the US and Europe, in line with the launch of Samsung Electronics' new Galaxy S23 product. In addition, with the normalization of major production plants, both finished products and parts increased simultaneously, recording a 24.4% increase year-on-year to $1.41 billion.

Computer and peripheral equipment sales fell 58.7% year-on-year to $630 million, as consumer sentiment continued to weaken due to the global economic downturn.

Meanwhile, export trends in major countries, including China, Vietnam, the European Union, and Japan, all recorded continuous declines due to the decline in demand from upstream industries and the reduction in IT device production caused by the slowdown in global economic growth.

Although China has relaxed its COVID-19 prevention policies, the impact of existing factory shutdowns remains significant. Semiconductor sales fell 49.9% year-on-year to $3.15 billion. Vietnam saw a continued decline in component prices due to weakening demand in upstream industries. In the US, sales increased the most due to the launch of new mobile phones, but computer and peripheral equipment sales declined.