Semiconductor exports plummet, ICT industry trade balance down 13%

According to the Ministry of Science, Technology and Information Communication, the export value of information and communication technology (ICT) in 2022 will be 233.32 billion dollars, and the import value will be 152.47 billion dollars. The export value of semiconductors, South Korea's largest export, fell from $66.98 billion to $55.72 billion.

Due to the prolonged Russian invasion of Ukraine and global economic stagnation, ICT exports in December last year reached $16.9 billion.

In particular, exports of semiconductors by SMEs (down 12.6% to $2.14 billion) and displays (down 23.6% to $200 million) have declined, and the impact of the economic stagnation has been offset.

By country, China's continuation of its "Zero-COVID" policy has led to a decline in trade volume, and the value of exports has fallen by 4.9% to $102.3 billion. On the other hand, Vietnam (up 4.3% to 36.6 billion dollars), the United States (up 4.4% to 29.2 billion dollars), the European Union (EU, up 7.5% to 13.7 billion dollars), and Japan ($4.4 billion, up 2.7%), exports to major regions are increasing.