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ICT exports rise 28.1% to $17.7 billion in January 2018-02-21

The Ministry of Trade, Industry and Energy announced on February 13 that exports of information and communication technology (ICT) goods rose 28.1 percent year-on-year to USD 17.7 billion in January.
Exports of ICT goods saw double-digit growth for the 14th consecutive month since December 2016, while reaching a record-high for each respective month for 12 straight months.

The double-digit growth in ICT exports was led by a 53.8 percent year-on-year increase in outbound shipments of semiconductors, which recorded $9.9 billion in January. Monthly semiconductor exports surpassed $9 billion for five consecutive months, thanks to increasing demand for servers and smartphones as well as higher prices of dynamic random-access memory (DRAM) chips.

Outbound shipments of computers and peripheral devices rose 38.2 percent to $927 million from a year earlier, posting growth for ten straight months. While exports of peripheral devices, such as solid-state devices (SSDs), remained strong, those of computers slowed down.

Exports of displays saw a year-on-year decrease of 5.9 percent to $2.3 billion because of lower prices of liquid-crystal display panels despite robust overseas demand for organic light-emitting diode (OLED) displays and their components.

Outbound shipments of mobile phones and parts contracted 8.3 percent from a year earlier to $1.4 billion. In detail, exports of mobile phones shrank 29.8 percent to $390 million because of intensifying competition while those of mobile phone parts grew 4.1 percent to $1 billion on account of stronger foreign demand for camera modules.

By region, exports of ICT goods to China, including Hong Kong, rose 29.2 percent year-on-year to $9.8 billion. This was led by 56.5 percent growth in semiconductor exports.

Shipments to Vietnam increased 86.1 percent to $2.5 billion as semiconductor and display exports more than doubled.

Exports to the U.S. and the European Union (EU) expanded 6.4 percent to $1.3 billion and 5.6 percent to $944 million, respectively.

ICT imports also rose 19.6 percent from a year earlier to $9.3 billion, increasing for 15 consecutive months.

A breakdown of ICT imports showed that inbound shipments of semiconductors increased 18.8 percent to $3.6 billion and those of displays climbed 16.9 percent to $519 million.

Inbound shipments of computers and peripheral devices surged 27 percent to $1.4 billion while those of mobile phones and parts grew 23.5 percent to $1.1 billion.

ICT imports from Vietnam leaped 79.5 percent to $834 million while those from Japan and the U.S. increased 15.2 percent to $927 million and 10.4 percent to $736 million, respectively. Inbound shipments from China rose 8.6 percent to $3.7 billion.

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