S. Korea ICT Exports Fall
World Economy

S. Korea ICT Exports Fall

South Korea’s exports of information and communications technology products reduced for the first time in three months due to the weak global demand, a government report showed Tuesday, Xinhua reported. The country’s tech exports declined 3.9% from a year earlier to $13.71 billion in July, according to the ministry of trade, industry and energy. The ICT imports gained 5.8% to $7.57 billion in the cited period, but trade surplus in the sector stood at $6.14 billion. Outlook for global ICT demand remained dim. According to market researcher Gartner, the global ICT market was estimated at declines of 1.3% in the first quarter and 5.5% in the second quarter respectively.


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