(Morning News) Korean chip manufacturer's factory exports in July for the first time in the past three years, highlighting that the demand is weakening.
Bloomberg reported that according to a statement issued by the National Bureau of Statistics on Wednesday (August 31), after the increase in semiconductor exports increased by 5.1%in June, a year -on -year decrease of 22.7%.In July, the country's inventory was still high, an increase of 80%year -on -year, which was the same as last month.
The chip production in July has also slowed down for the fourth consecutive month, which means that major producers such as Samsung Electronics and SK Hynix are adjusting the output to reflect the cooling and increased inventory.
Semiconductor has always been called "economic rails" by the industry, and chip sales have weakened, which has exacerbated the dullness of global economic prospects.Factors such as the Ukraine War, the restrictions on China ’s epidemic, and the rate hikes that responding to inflation pressure are also dragging economic activities to reduce corporate profits.
Semiconductor is the key part of the global economy that relys on electronic products and online services.During the epidemic, as many people turned to remote work and education, the risk of infection virus was reduced to the greatest extent, and the demand for chips increased.
The decline in semiconductor export volume has caused South Korea to record the first technical exports of the first time in July for more than two years.Although the overall export of South Korea increased by 9.4%in July, the overseas sales of memory chips fell 13.5%.
In addition, the Bureau of Statistics said that the overall industrial production in South Korea increased by 1.5%over the same period last year, lower than the 2.6%of economists' forecast.
An analyst at Citi Group warned that the global semiconductor industry is entering the worst period of downturn in 10 years, and predicts that the demand for chip sectors may fall by 25%.
