Consumer electronics demand slumped, and South Korean chip exports fell 29.4%

It is reported that the decline in demand for consumer electronics products has led to a decline in chip demand, especially for memory chips, where demand and prices have both declined, and the performance of relevant manufacturers has also been affected.

As an important storage chip production and export country in the world, the decline in chip requirements will have a more significant impact on South Korea, which will directly affect its exports. According to their newly released data, the downward trend in chip requirements continues.

According to new 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, a year-on-year decrease of 29.4%. In addition to chips, South Korea's important export commodities include mobile terminals such as smartphones. However, the export value of such products also decreased by 20.6% year-on-year in the first 20 days, to $1.36 billion.

The decline in the export value of products such as chips has also affected South Korea's overall exports. According to information from the South Korean Customs Agency, the total export value of South Korea in the first 20 days of this month was 33.2 billion US dollars, a decrease of 6.6 billion US dollars compared to 39.8 billion US dollars in the same period last year, a year-on-year decrease of 16.7%. Although the import volume also decreased in the first 20 days, it only decreased by 5.5% year-on-year, to 37.6 billion US dollars, which is also higher than 33.2 billion US dollars, resulting in a trade deficit of 4.4 billion US dollars.

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