Источник изображения: Bloomberg

Growth in export of electronic components from South Korea speaks of market revival

South Korea was one of the first countries to take the hit of the coronavirus epidemic after China. Official statistics show that South Korea’s export turnover in July was still 7% lower than the same period last year, but electronic components have already begun to enjoy increased demand outside the country.

Image source: Bloomberg

Image source: Bloomberg

Excerpts from official statistics are quoted by Bloomberg. In June, there was already an increase in export earnings from the sale of products related to information technology and telecommunications, by one percent in annual comparison. In July, the growth increased to 3.3%. April and May in this segment showed negative dynamics.

Revenue from South Korea’s memory chip exports rose 5% in July, although it was down in June from the same month last year. System logic export revenue increased by 8% in July, with positive dynamics continuing for the third consecutive month. For the first time since March of this year, the revenue of Korean suppliers from the export of mobile phones increased by 21% at once. In the segment of storage devices, export revenue increased by 124% at once. All this suggests that the international market for electronic components, albeit not quite evenly, but revives after a period of self-isolation.

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