Korea's ICT exports shrank 6.6% in July

South Korea's exports of information and communication technology products fell 6.6 percent in July from a year earlier due largely to decreased shipments of flat displays and mobile phones, government data showed Thursday.

ICT exports reached $13.02 billion last month, down from $13.93 billion a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.

It marked the 10th consecutive on-year decline since October last year.

Exports of ICT goods accounted for 31.7 percent of the country's $41.1 billion in overall shipments abroad over the cited period.

South Korea's exports fell 10.2 percent in July, extending its losing streak to 19 months, hit hard by a global slowdown and low oil prices.

Imports of foreign ICT products retreated 6.4 percent on-year to $7.2 billion last month, with the country logging a trade surplus of $5.82 billion in the sector.

The trade ministry said weak exports of display panels and mobile phones led the decline as global oversupply and flaccid demand weighed heavily on the sectors.

Shipments of flat screens plunged 19.2 percent on-year to $2.28 billion and those of mobile gadgets sank 10.1 percent on-year to $1.74 billion over the period.

Overseas sales of semiconductors also contracted 2.6 percent to $5.28 billion, widening from a 0.5-percent fall in June.

By region, shipments to China and the European Union dipped 9.5 percent and 8.2 percent on-year, respectively, with those to the United States tumbling 10.7 percent in June.

Exports to Vietnam, on the other hand, soared 24 percent and those to India jumped 17.6 percent over the cited period, the data showed. (Yonhap)