- Registration date2024-10-14
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The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that the export and import of Korea’s information and communications technology (ICT) goods for September 2024 logged USD 22.4 billion and $12.5 billion, respectively, and the trade balance stood at a surplus of $9.9 billion.
ICT exports for the month of September (up 24.0 percent year-on-year) came in second highest following those of March 2022, maintaining an upward climb for the 11th consecutive month.
Semiconductor exports hit unprecedented highs and led overall ICT exports, advancing 36.3 percent year-on-year to $13.6 billion. Memory chips (up 60.7 percent to $8.7 billion) and system chips (up 5.2 percent to $4.4 billion) both increased.
Exports of finished mobile phones (up 0.5 percent to $0.3 billion) and parts (up 31.2 percent to $1.4 billion) rose simultaneously, maintaining the double-digit growth since March 2024.
Computers and peripherals (up 104.8 percent to $1.6 billion) are enjoying robust demand as solid-state drives (SSDs) (up 168.8 percent to $1.2 billion) surpassed the $1 billion monthly export value for the second consecutive month.
By region, ICT exports to China (including Hong Kong) climbed 22.6 percent to $9.2 billion, achieving growth for the 11th consecutive month on the backs of demand for major items like semiconductors and mobile phones.
Exports to Vietnam (up 8.7 percent to $3.4 billion) expanded for the 14th consecutive month thanks to growth across key items.
Exports to the U.S. (up 39.9 percent to $3.0 billion) grew for the 11th consecutive month as semiconductors (up 88.0 percent to $1.2 billion) and computers and peripherals (up 250.6 percent to $0.7 billion) hiked sharply, boosted by demand for servers and datacenters.
EU-bound ICT exports (up 11.3 percent to $1.1 billion) sustained growth for the seventh consecutive month with mobile phones (up 361.2 percent to $0.2 billion) and computers and peripherals (up 116.6 percent to $0.2 billion) displaying strong growth.
To Japan (up 2.3 percent to $0.4 billion), exports of semiconductors and computers and peripherals increased.