April 25, 2024
Economy
Korea’s ICT exports rise 17% in May
[THE INVESTOR] Korean exports of information and communications technology products increased for the seventh month in a row in May, government data showed on June 14.
A total of US$15.4 billion in Korean-made ICT products were shipped overseas last month, up 17.4 percent from a year earlier, according to the data compiled by the Ministry of Science, ICT and Future Planning.
May’s overseas shipments of ICT products posted a double-digit on-year increase for the sixth straight month and marked record-high monthly growth for May, the ministry said.
ICT imports also increased 13.4 percent on-year to US$7.99 billion last month, with the country logging a trade surplus of US$7.42 billion in the sector, the latest data showed.
The ministry said rising overseas demand for Korean computer chips, display panels and computers contributed to the surge, offsetting the weak exports of mobile phones.
By region, shipments to China, Vietnam and the EU increased 15.7 percent, 79.9 percent and 6.5 percent on-year in May, respectively, the data showed. Meanwhile, those to the US sank 17.9 percent last month from a year earlier.
By Alex Lee and newswires (alexlee@heraldcorp.com)
A total of US$15.4 billion in Korean-made ICT products were shipped overseas last month, up 17.4 percent from a year earlier, according to the data compiled by the Ministry of Science, ICT and Future Planning.
May’s overseas shipments of ICT products posted a double-digit on-year increase for the sixth straight month and marked record-high monthly growth for May, the ministry said.
ICT imports also increased 13.4 percent on-year to US$7.99 billion last month, with the country logging a trade surplus of US$7.42 billion in the sector, the latest data showed.
The ministry said rising overseas demand for Korean computer chips, display panels and computers contributed to the surge, offsetting the weak exports of mobile phones.
By region, shipments to China, Vietnam and the EU increased 15.7 percent, 79.9 percent and 6.5 percent on-year in May, respectively, the data showed. Meanwhile, those to the US sank 17.9 percent last month from a year earlier.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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