South Korea's Chip Sales Plummet 43.9% in First 20 Days of February.

According to Bloomberg, recent trade data from South Korea has shown a continued decline in exports this month. The country's customs office reported on Tuesday that overall exports from February 1 to 20 fell by 2.3% compared to the same period last year, with chip sales plummeting by 43.9%.

Despite favorable seasonal holiday factors, the country's shipments to China dropped by 22.7%, with little improvement from January. With the global economy deteriorating, South Korea's exports began to decline at the end of last year, making global trade one of its biggest risks. The semiconductor demand slump has also caused many troubles for South Korean manufacturers, many of which are important participants in the global supply chain.

Due to the trade deterioration, South Korea experienced its first economic contraction in over two years last quarter. In January, the country posted its worst monthly trade deficit on record. The trade deficit in early February was $6 billion, compared to $10 billion in the same period last month.

According to statistics released on the 14th by South Korea's Ministry of Science and ICT, the country's ICT exports in January were worth $13.1 billion, a 33.2% year-on-year decrease. ICT exports have been decreasing for seven consecutive months since last July, due to the impact of the global economic downturn and the continued downturn in the semiconductor industry.