- ICT exports achieve all-time high in 2021 2022-01-12
The Ministry of Trade, Industry and Energy announced on January 12 that shipments of Korea’s information and communications technology (ICT) products in 2021 hit an all-time high of USD 227.6 billion, up 24.0 percent from 2020.
This is the highest ICT exports recorded since beginning aggregation in 1996.
Imports went up 19.9 percent to $13.5 billion, and the trade balance stood at a surplus of $9.3 billion.
Exports of all four ICT product types increased.
Those of semiconductors reached $128.7 billion, up 28.4 percent. Memory chips soared 28.9 percent to $82.4 billion due to steady demand for mobile phones and servers. Annual exports of system chips spiked 31.4 percent to $39.8 billion, and exports of system chips throughout May to December surpassed $10 billion per month.
Display exports climbed 19.0 percent to $24.7 billion, increasing for the 16th consecutive month. Continued demand for TV and premium phones pushed exports for organic light-emitting diodes (OLEDs), increasing by 33.2 percent to $14.5 billion.
Shipments of mobile phones totaled 14.0 billion, up 24.7 percent compared to last year. Newly released premium smart phones and high value-added parts led to higher exports in both finished products (up 20.2 percent to $4.9 billion) and parts (up 27.3 percent to $9.1 billion).
Those of computers and peripheral devices surged 25.0 percent to $17.4 billion. Peripheral devices (up 27.4 percent to $15.1 billion) saw strong growth in demand, and auxiliary memory devices (up 28.2 percent to $13.0 billion) increased substantially.
ICT exports to all major regions increased.
Outbound shipments to China advanced 23.8 percent to $107.5 billion. Semiconductors, displays, and mobile phones all recorded double-digit growth.
Due to strong semiconductor and display sales, those to Vietnam rose 18.0 percent to $35.1 billion, a historic first to break through the 30 billion line.
ICT goods shipped to the United States saw a 26.6 percent increase to $28.0 billion on the back of semiconductors, computers, peripheral devices, and secondary batteries.
Those to the European Union (EU) totaled $12.8 billion, up 22.8 percent, a positive growth for two years straight. The growth is attributable to demand for semiconductors, secondary batteries, peripheries, and mobile phones.
The value of ICT goods shipped to Japan advanced 10.7 percent to $4.3 billion owing to improved positive growth in demand for semiconductors, peripheries, and secondary batteries.