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Korea’s ICT exports advance 32.6% in April 2021-05-17

The Ministry of Trade, Industry and Energy announced on May 14 that Korea’s exports of information and communications technology (ICT) products in April advanced 32.6 percent to USD 17.1 billion, hitting the record high value for the month of April.

Imports expanded 21.5 percent to $10.8 billion, and the trade surplus stood at a surplus of $6.3 billion.

Outbound shipments of all major items experienced growth.

Exports of chips increased 29.4 percent to $9.4 billion, rising for 10 straight months. Both memory chips (up 18.8 percent to $5.9 billion) and system chips (up 59.0 percent to $2.9 billion) saw increases.

Those of displays gained 35.1 percent to $1.7 billion. Organic light-emitting diodes (OLEDs) went up 57.5 percent to $840 million and liquid-crystal displays (LCDs) grew 13.1 percent to $500 million. Exports of parts also rose 26.0 percent to $330 million.

The value of mobile phones shipped overseas jumped 89.7 percent to $1.2 billion. Finished products (up 89.4 percent to $570 million) and parts (up 89.9 percent to $670 million) both moved up.

Shipments of computers and peripheral devices inched up 3.9 percent to $1.1 billion on the back of increases in both computers (up 8.8 percent to $160 million) and peripheral devices (up 3.1 percent to $960 million).

By region, ICT exports to China recorded $8.0 billion, up 21.6 percent from the same period last year. This was attributable to higher demand for chips, displays, and mobile phones.

Exports to Vietnam reached $2.4 billion, rising 67.0 percent from last year. Robust sales of semiconductors, displays, and mobile phones led to the growth.

Exports to the United States (U.S.) grew 25.2 percent to $2.1 billion thanks to mobile phones and secondary batteries.

Those to the European Union (EU) climbed up 36.3 percent to $1.1 billion due to mobile phones and secondary batteries.

Meanwhile, shipments to Japan edged down 1.4 percent to $316 million because of declines in displays and mobile phones.

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