April 19, 2024
Economy
Korea’s ICT exports up 17% in Jan.
[THE INVESTOR] South Korea’s exports of information and communications technology products rose by 16.7 percent in January, government data showed on Feb. 14.
According to the data compiled by the Ministry of Trade, Industry and Energy ICT exports reached US$13.83 billion last month, rising from the US$11.85 billion tallied a year ago.
Imports of foreign ICT products also jumped 14.8 percent on-year to US$7.79 billion last month, with the country logging a trade surplus of US$6.05 billion in the sector.
Exports of ICT products accounted for 34.3 percent of the country’s entire exports of US$40.33 tallied in the same month, with the percentage going to 20.9 percent for imports. The ministry said rising demand for South Korean semiconductors, displays and computers contributed to the improvement in ICT exports, offset the weak exports of mobile phones.
Outbound shipments of semiconductors soared 41.6 percent on-year last month to reach a record US$6.41 billion on the back of recovering demand for memory chips and a price hike, according to the data. Exports of displays also vaulted 15.6 percent on-year for the third month in a row in January, while those of computers and computer equipment gained 7.9 percent last month.
On the other hand, combined overseas sales of mobile phones and parts tumbled 36.4 percent to US$1.21 billion last month from a year earlier, extending their losing streak to 10 months.
By region, shipments to Vietnam shot up 83.3 percent on-year, while those to China, including Hong Kong, and Japan rose 7.8 percent and 11.6 percent on-year.
(theinvestor@heraldcorp.com)
According to the data compiled by the Ministry of Trade, Industry and Energy ICT exports reached US$13.83 billion last month, rising from the US$11.85 billion tallied a year ago.
Imports of foreign ICT products also jumped 14.8 percent on-year to US$7.79 billion last month, with the country logging a trade surplus of US$6.05 billion in the sector.
Exports of ICT products accounted for 34.3 percent of the country’s entire exports of US$40.33 tallied in the same month, with the percentage going to 20.9 percent for imports. The ministry said rising demand for South Korean semiconductors, displays and computers contributed to the improvement in ICT exports, offset the weak exports of mobile phones.
Outbound shipments of semiconductors soared 41.6 percent on-year last month to reach a record US$6.41 billion on the back of recovering demand for memory chips and a price hike, according to the data. Exports of displays also vaulted 15.6 percent on-year for the third month in a row in January, while those of computers and computer equipment gained 7.9 percent last month.
On the other hand, combined overseas sales of mobile phones and parts tumbled 36.4 percent to US$1.21 billion last month from a year earlier, extending their losing streak to 10 months.
By region, shipments to Vietnam shot up 83.3 percent on-year, while those to China, including Hong Kong, and Japan rose 7.8 percent and 11.6 percent on-year.
(theinvestor@heraldcorp.com)
