April 20, 2024
Economy
ICT exports hit record high of US$20b in Aug.
[THE INVESTOR] Korean exports of information and communications technology products hit a record high of US$20.19 billion in August on robust overseas demand for semiconductors, government data showed on Sept. 17.
The total represents 15.5 percent hike from US$17.48 billion 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 30.4 percent on-year to US$11.64 billion on the back of continued growth in demand.
The ministry said exports of displays rose 5.8 percent on-year to US$2.96 billion on increased demand for organic light-emitting diode panels.
Meanwhile, exports of mobile handsets and parts dropped 19.7 percent on-year to US$1.32 billion last month due to heated competition.
By destination, shipments of ICT products to China shot up 20 percent on-year to US$10.91 billion last month, followed by exports to Vietnam up 24.3 percent to US$2.79 billion. ICT products shipments to the U.S. contracted 1.4 percent to US$1.74 billion during the same period.
Korea’s imports of ICT products gained 0.4 percent on-year to US$8.65 billion in August, according to the ministry.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
