- Registration date2024-12-16
-
Attached file
The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced on December 15 that the export and import of Korea’s information and communications technology (ICT) goods for November 2024 achieved USD 20.5 billion and $12.4 billion, respectively, and the trade balance logged a surplus of $8.1 billion.
ICT exports for the month of November advanced 14.8 percent year-on-year to enter the $20 billion thresholds for the fourth consecutive month, thanks to the strong performance of leading items like semiconductors and computers/peripherals. The accumulated ICT export value from January–November rose 26.1 percent year-on-year to $212.4 billion.
Semiconductors climbed 30.3 percent to $12.5 billion, the January–November accumulated chip exports reaching an all-time high of $127.5 billion on the backs of robust demand for both memory chips (up 52.0 percent to $8.0 billion) and system chips (up 1.9 percent to $4.0 billion).
Computers/peripherals leaped 98.6 percent, driven by steep demand for solid-state drives (SSDs) (up 194.2 percent to $1.2 billion).
By region, ICT exports to China (including Hong Kong) inched down 2.2 percent to $7.9 billion as those of mobile phones and displays decreased.
Exports to Vietnam (up 5.7percent to $3.3 billion) improved for the 16th consecutive month, led by semiconductors and mobile phones.
Exports to the U.S. (up 47.5 percent to $3.0 billion) expanded for the 13th consecutive month as semiconductors (up 109.8 percent to $1.1 billion) and computers/peripherals (up 350.8 percent to $0.8 billion) surged, boosted by demand for servers and datacenters.
EU-bound ICT exports (up 5.7 percent to $1.1 billion) continued their upward trajectory for the ninth consecutive month, with mobile phones (up 68.1 percent to $0.2 billion) and computers/peripherals (up 71.3 percent to $0.3 billion) at the helm.
Exports to Japan (down 4.5 percent to $0.3 billion) shrank despite growth of semiconductors and displays as shipments of items like computers/peripherals decreased.