On Sept. 14, the Ministry of Trade, Industry, and Energy announced that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$160.5 billion, with imports reaching US$110.7 billion. This led to a provisional trade surplus of US$49.8 billion.
The decline in the unit price of semiconductors, a main export item, coupled with a delay in recovery of demand for ICT devices, resulted in a 16.7% decrease in ICT exports compared to the same month last year. However, the rate of decrease in exports is showing a gradual improvement, with the first decrease in the 10% range this year after reaching a low point in April.
By item, displays increased by 1.8%, but there were decreases in semiconductors (21.1%), mobile phones (12.2%), computers and peripherals (47.4%), and communication equipment (9.5%).
Geographically, exports to Vietnam rose by 1.7% and to Japan by 13.0%, largely due to an increase in display exports. However, exports to China (including Hong Kong) decreased by 20.6%, while those to the U.S. were down by 29.5%, and the European Union (EU) also saw a decrease of 20.0%.
Specifically, semiconductor exports stood at US$86.4 billion, a 21.1% drop from the same period last year, primarily due to delays in semiconductor business recovery and a decline in memory unit prices. Still, the decline in semiconductor exports has been showing signs of gradual improvement since a low in January.
Exports of displays amounted to US$21.3 billion, a 1.8% increase. This shift to positive growth, the first in 15 months, was driven by expanded exports of mobile-oriented Organic Light Emitting Diodes (OLEDs). Notably, US$13.5 billion was exported to Vietnam, where major mobile production bases of our companies are located, marking an increase of about 22.3%.
Exports from small and medium-sized enterprises decreased by 8.9% year-on-year to US$48.2 billion.
In terms of regional export performance, exports to China totaled US$65.5 billion, down by 20.6%, presumably due to expanded uncertainties in the Chinese economy, delaying the recovery of production and consumption. Exports to the U.S. amounted to US$16.5 billion, a 29.5% decrease compared to the same period last year. The EU also saw a decrease, with exports totaling US$8.4 billion, down by 20.0%. However, exports to Japan recorded US$3.8 billion, a 13.0% increase year-on-year.
Imports last month largely decreased. Semiconductors were down by 21.5% to US$52.8 billion, while computers and peripherals also decreased by 23.9% to US$10.1 billion.
Regionally, imports from China totaled US$37.9 billion, a 32.1% decline, and imports from the U.S. stood at US$6.9 billion, a 4.0% decrease.