South Korea’s exports of information and communication technology (ICT) products rose for the eighth consecutive month in June, driven by strong demand for semiconductors, according to Yonhap News Agency‘s report.
Outbound shipments of ICT products reached $21.05 billion last month, a 31.1 percent increase from $16.06 billion a year earlier, based on data compiled by the Ministry of Science and ICT.
Meanwhile, imports of ICT products fell 5.1 percent year-on-year to $10.87 billion, resulting in a trade surplus of $10.18 billion in the sector.
For the first half of the year, South Korea’s ICT exports totaled $108.9 billion, the second-highest figure for the period, growing 28.2 percent compared to the same timeframe a year ago.
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ICT imports edged down 0.7 percent year-on-year to $67.78 billion in the first half, leading to a trade surplus of $41.07 billion.
By product category, chip exports surged 49.4 percent year-on-year to a record $13.44 billion in June, driven by robust global chip demand fueled by the growth of the artificial intelligence market and the recovery of the IT device market.
Overseas sales of displays climbed 22.6 percent to $1.95 billion, posting a double-digit increase for the fifth consecutive month, on the back of the recovery in demand for organic light-emitting diode (OLED) and liquid crystal display (LCD) panels.
Exports of mobile phones expanded 8 percent year-on-year to $840 million, and outbound shipments of computers and peripherals jumped 48.9 percent to $1.29 billion. However, exports of communications equipment dropped 8.6 percent to $200 million.
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