- Korea was responsible for 8.8 per cent of the global electronics manufacturing output last year
- Electronics output of Korea grew 9 per cent on average every year as from 2013, the 3rd fast amongst global top 20
- Components like semiconductors made a share of 77.3 per cent of electronics output of Korea last year
- Wireless communication devices were responsible for 10 per cent percent and computers 7.8 per cen
South Korea leaped to the third-largest electronics manufacturing powerhouse of the world with its output stretched over 50 per cent from five years ago, however, its heavy dependence on components such as memory chips proposes that the country is vulnerable to external shocks.
Korea produced $171.1bn worth of electronics products, up 53.3 per cent from 2013. The country was responsible for 8.8 per cent of the global electronics manufacturing output last year, bumping out Japan to become the 3rd largest in the world and up one notch from 5 years ago, according to the Korea Electronics Association.
The growth areas
Electronics output of Korea grew 9 per cent on average every year as from 2013, the 3rd fast amongst global top 20 after Vietnam with 11.7 per cent and India with 10.9 per cent. China’s yearly electronics output growth averaged 2.9 per cent and the U.S. 1.0 per cent over the same period, whereas electronics output of Japan shrank 2.3 per cent.
Components like semiconductors made up an enormous share of 77.3 per cent of electronics output of Korea last year, up 18.8 per cent points from 5 years ago. Wireless communication devices were responsible for 10 per cent percent and computers 7.8 per cent.
Computers accounted for the largest 34.2 per cent share of total electronics production of China, whereas wireless communication devices comprised 32.3 per cent of United States’ made electronics. Japan also heavily depended on components with the sector occupying 56.6 per cent.
China leads the game
China was the largest electronics powerhouse in the world with $717.2bn or 37.2 per cent of the entire global electronics production, followed by the US with $245.5bn which is equivalent to 12.6 percent. By sector, Korea was the 2nd largest electronics components maker of the world with a 19.2 per cent share, after China with 24.1 per cent.
Wireless communication devices production of Korea was the 5th largest in the world with a 4.3 per cent share after China with 46.4 per cent, U.S. 20 per cent, Vietnam 8 per cent, and India 4.4 per cent.
(News courtesy: Market Report Gazette)
