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Korea’s ICT exports rise for 4 straight months, up 11.9% to $17.6 billion in September 2020-10-16

The Ministry of Trade, Industry and Energy announced on October 15 that Korean information and communications technology (ICT) exports in September went up for the 4th consecutive month and posted a year-on-year growth of 11.9 percent to USD 17.6 billion.

Imports also rose 9.0 percent to $9.6 billion, and the trade balance stood at a surplus of $8.1 billion.

By item, outbound shipments of semiconductors, displays, computers and peripherals went up, while those of mobile phones went down.

Shipments of semiconductors increased 11.9 percent to $9.6 billion. Memory chips expanded 9.8 percent to $6.2 billion, and system semiconductors grew 16.8 percent to $2.9 billion.

Those of displays gained 2.7 percent to $2.1 billion. Organic light-emitting diode (OLED) panel demand increased, while liquid-crystal display (LCD) panel production decreased.

Computers and peripheral devices shipped overseas jumped 62.7 percent to $1.3 billion thanks to the growth in auxiliary memory devices (up 97.6 percent to $950 million), such as solid-state drives (SSDs).

Meanwhile, mobile phone exports fell 13.2 percent to $1.0 billion. Finished products advanced 33.9 percent to $330 million, but mobile parts contracted 25.7 percent to $690 million.

By region, ICT exports to all major regions increased except for those to Japan.

ICT exports to China experienced a growth of 5.6 percent to $8.2 billion on the back of strong semiconductor and computer sales.

Those to Vietnam grew 18.0 percent to $3.1 billion. Displays, computers and peripheral devices, and mobile phones all went up.

 

Korean ICT exports to the U.S. jumped 36.3 percent to $2.0 billion because of semiconductors and computers and peripheral devices.

Korean ICT products shipped to the EU increased 15.9 percent to $1.1 billion. Shipments of chips, mobile phones, and computers and peripherals all saw growth.

On the other hand, exports to Japan dipped 9.0 percent to $337 million as semiconductors, displays, and computers and peripherals contracted.

 

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