South Korea’s statistics authority revealed today that the stock of chipmakers in the country rose to its highest level in nearly 26 years in January 2023, reflecting slowing global demand amid economic uncertainty. recorded in March 1997.
A higher ratio typically indicates that companies face more hurdles in selling their products, although the number can rise as companies rack up large shipments. A higher ratio may also prompt chip makers to scale back production. or cut prices to maintain sales.
Exports of semiconductors, the country’s largest export item, fell 42.5 percent to $5.96 billion in February from a year earlier, due to the decline in the semiconductor industry.
With South Korea’s heavy reliance on the chip industry, its exports fell for the fifth consecutive month in February this year, falling 7.5% year on year to $50.1 billion.
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