- ICT exports increase at double-digit rate to $20.2 billion in October 2018-11-14
The Ministry of Trade, Industry and Energy announced on November 14 that exports of information and communications technology (ICT) products in October reached USD 20.2 billion, up 12.3 percent from the same period last year.
ICT imports also increased 10.3 percent to $10 billion from a year earlier, and the trade surplus stood at $10.2 billion.
Surpassing $20 billion in ICT exports for three straight months was led by semiconductors and computers and peripheral devices.
Semiconductor exports rose 21.5 percent to $11.7 billion with increased shipments of both memory and system chips. Cumulative annual semiconductor exports reached $108.4 billion in October, exceeding the $100 billion-mark for the first time for any single export item.
Outbound shipments of computers and peripheral devices rose 5.2 percent to $882 million. This growth was driven by computers (up 56.2 percent to $137 million) and monitors (up 36.6 percent to $107 million).
In contrast, display exports dropped 10.5 percent to $2.4 billion mainly due to a decrease in shipments of organic light emitting diode (OLED) panels and more intense competition in the liquid crystal display (LCD) market.
The value of mobile phones shipped overseas also went down 14.1 percent to $1.6 billion as a result of intensifying competition between smartphone makers.
By region, ICT shipments to all major export destinations posted growth.
ICT exports to China, including Hong Kong, advanced 3.3 percent to $10.5 billion with semiconductors growing 9.6 percent to $7.5 billion and computers and peripheral devices improving 30.7 percent to $440 million.
Those to Vietnam also climbed up 7.8 percent to $2.6 billion, led by semiconductors (up 28.0 percent to $870 million) and mobile phones (up 58.4 percent to $390 million).
Shipments of ICT goods to the U.S. rose 30.3 percent to $2.2 billion mainly due to semiconductor exports that increased 132.6 percent to $910 million. Meanwhile, mobile phones went down 18.6 percent to $510 million, and computers and peripheral devices contracted 34.8 percent to $160 million.
The value of ICT products bound for the EU climbed up 44.8 percent to $1.1 billion. This is attributable to semiconductors (up 30.9 percent to $190 million) and displays (up 19.6 percent to $140 million).
ICT exports to Japan also increased 12.6 percent to $374 million with displays growing 72.7 percent to $20 million and mobile phones advancing 24.9 percent to $20 million.
For imports, inbound shipments of all four ICT item categories increased. Imports of semiconductors inched up 0.9 percent to $4.0 billion, and those of displays went up 3.0 percent to $480 million. The value of computers and peripheral devices shipped to Korea rose 10.4 percent to $1.1 billion, and mobile phone imports gained 20.0 percent to $1.5 billion.
By country, imports from China grew 6.2 percent to $4.0 billion, and inbound shipments from Vietnam increased 7.3 percent to $750 million. Meanwhile, imports from Japan decreased 9.5 percent to $970 million, and those from the U.S. slipped 0.6 percent to $753 million.