S. Korea’s ICT Exports Soar for Sixth Straight Month
(MENAFN) South Korea’s export of information and communications technology (ICT) products surged for the sixth consecutive month, driven by strong semiconductor demand, government data revealed Wednesday.
According to the Ministry of Trade, Industry and Energy, shipments of ICT products soared 14.5 percent year-on-year to 22.19 billion U.S. dollars in July, continuing an upward trajectory since February.
Chip exports jumped 31.2 percent to 14.72 billion dollars, fueled by robust demand for advanced products such as double data rate 5 and high bandwidth memory used in generative artificial intelligence chipsets.
However, display panel shipments fell 8.9 percent to 1.76 billion dollars, while mobile phone exports dropped 21.7 percent to 960 million dollars.
Exports of computers and peripherals declined 17.1 percent to 1.09 billion dollars, but communications equipment exports increased 4.6 percent to 200 million dollars.
On the import side, ICT product imports rose 9.8 percent year-on-year to 13.32 billion dollars in July, pushing the ICT sector’s trade surplus to 8.87 billion dollars.
Imports of chips, mobile devices, and computers increased, whereas display panels and communications equipment saw double-digit declines last month.
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