Source: TechWeb

    On November 22, it was reported by foreign media that the decline in demand for consumer electronics products led to a decline in demand for chips, especially memory chips, both in demand and price, and the performance of related manufacturers was also affected.

    As an important global memory chip producer and exporter, the decline in chip demand has a more obvious impact on South Korea, which will directly affect their exports. However, according to the latest data disclosed by them, the decline in chip demand continues.

    According to the latest data released by the South Korean Customs Office, in the first 20 days of November, South Korean chip exports reached 5.28 billion US dollars, down 29.4% year on year.

    In addition to chips, South Korea‘s important export products include mobile devices such as smartphones. However, the export value of such products in the first 20 days also dropped 20.6% year-on-year to 1.36 billion US dollars.

    The decline in exports of chips and other products also affected the overall exports of South Korea. According to the data of the South Korean Customs Office, in the first 20 days of this month, the overall export volume of South Korea was 33.2 billion US dollars, down 6.6 billion US dollars from 39.8 billion US dollars in the same period last year, down 16.7% year on year.

    Although the import volume in the first 20 days also declined, it only declined 5.5% year on year. The import volume of US $37.6 billion was also higher than the export volume of US $33.2 billion, showing a trade deficit of US $4.4 billion.