April 26, 2024
Economy
Korea’s ICT exports rise 18% in July
[THE INVESTOR] Korean exports of information and communications technology products posted double-digit growth for the 20th month in a row in July on the back of brisk overseas sales of semiconductors, displays and smartphones, government data showed on Aug. 16.
A total of US$18.56 billion worth of ICT products were shipped overseas last month, up 18.2 percent from a year earlier, according to the Ministry of Science and ICT.
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Exports of semiconductors made by Asia’s fourth-largest economy soared 30.2 percent on-year to US$10.47 billion on the back of continued growth in demand.
The ministry said exports of displays increased 2.6 percent on-year in the one-month period due to increased demand for OLED panels amid heated global competition for LCD panels.
Overseas shipments of computers and related equipment increased 10 percent on-year last month on the back of steady demand for solid-state drives, the data showed.
Combined overseas sales of mobile handsets and parts were also up 6.8 percent to US$1.35 billion last month from a year earlier to continue a three-month rally fueled by the launch of newer smartphones, the latest numbers showed.
By region, shipments to China soared 26.1 percent on-year to surpass the US$10 billion mark for three months in a row, the latest findings showed.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
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