According to Yonhap News,
South Korea's exports of information and communication technology (ICT) products rose for the 12th consecutive month in October, driven by strong global demand for semiconductors, data showed Thursday.
Outbound shipments of ICT products came to US$20.8 billion last month, up 22 percent from $17.05 billion a year earlier, according to data compiled by the Ministry of Science and ICT.
It marks the third straight month the country's ICT exports surpassed the $20 billion mark.
Imports of ICT products increased 5.7 percent on-year to $13.3 billion, resulting in a trade surplus of $7.47 billion in the sector.
SEOUL, Nov. 14 (Yonhap) -- South Korea's exports of information and communication technology (ICT) products rose for the 12th consecutive month in October, driven by strong global demand for semiconductors, data showed Thursday.
Outbound shipments of ICT products came to US$20.8 billion last month, up 22 percent from $17.05 billion a year earlier, according to data compiled by the Ministry of Science and ICT.
It marks the third straight month the country's ICT exports surpassed the $20 billion mark.
Imports of ICT products increased 5.7 percent on-year to $13.3 billion, resulting in a trade surplus of $7.47 billion in the sector.
By item, chip exports jumped 39.9 percent on-year to $12.6 billion in October, posting a double-digit increase for the 12th straight month, amid robust demand for high-value products, like high-bandwidth memory chips, sparked by the global artificial intelligence boom.
In particular, outbound shipments of memory chips shot up 63.9 percent to $7.4 billion.
Overseas sales of mobile phones climbed 21.2 percent to $1.82 billion, and exports of computers and peripherals soared 48.4 percent to $1.12 billion on high demand for auxiliary storage devices.
But exports of displays and communications equipment dropped 21.5 percent and 8.4 percent to $1.8 billion and $180 million, respectively.
By nation, combined shipments to China and Hong Kong gained 9.9 percent on-year to $8.29 billion, logging a gain for the 12th consecutive month, as exports of chips and mobile phones increased.
Exports to the United States advanced 35.6 percent to $2.36 billion on chips and computers, and exports to Vietnam expanded 6.4 percent to $3.42 billion, logging a gain for the 15th straight month.
Outbound shipments to the European Union also rose 13.4 percent to $960 million, while exports to Japan declined 7.3 percent to $320 million.
nyway@yna.co.kr
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Source: Yonhap News (November 15, 2024)