South Korea’s exports of information and communication technology (ICT) declined about ten percent last month.
 
The Ministry of Science, ICT and Future Planning said on Tuesday that the country’s ICT exports posted 13-point-13 billion U.S. dollars in May, down nine-point-nine percent year-on-year.
 
The nation’s ICT exports have posted on-year decreases for eight straight months since October last year.
 
The ICT exports shrank one-point-six percent in October last year, 14-point-seven percent in December, 17-point-eight percent in January, five percent in March and 14-point-three percent in April.
 
Display exports posted on-year decreased 24-point-seven percent to two-point-two billion U.S. dollars in May due to a slowdown in demand for panels and an oversupply of Chinese products.
 
Exports of semiconductors declined four-point-four percent to four-point-nine billion dollars.
 
The country’s trade surplus in ICT in May marked over six billion dollars, which accounts for 86 percent of the country’s total trade surplus.