Korean IT exports exceed $20 billion for the fourth month
SEOUL, December 15 (WAM) – Data on Sunday showed that South Korea’s exports of information and communications technology products exceeded $20 billion last November, for the fourth month in a row.
The value of exports of ICT products rose 14.8% year-on-year to 20.5 billion US dollars in November, exceeding 20 billion dollars for 4 consecutive months since August, according to South Korea’s Yonhap News Agency, citing data compiled by the Ministry of Science, ICT, and Communications.
The year-on-year increase was higher than 30% from April to July of the year, but fell to less than 30% from August to October, and fell to less than 20% last month.
Imports of products from this sector amounted to $12.44 billion last month, resulting in a trade surplus of $8.06 billion.
Exports of information and communications technology products during the first 11 months of this year reached $212.4 billion, an increase of 26.1% over the same period last year.
By commodity, chip exports jumped 30.3% year-on-year to $12.4 billion, recording a double-digit increase for the thirteenth month in a row, amid strong demand for high-value products such as high-bandwidth memory chips due to the global boom in artificial intelligence.
Exports of memory chips rose by 52% to reach $7.96 billion, while exports of computers and accessories jumped by 98.6% to $1.15 billion, while monitor exports fell by 20.1% to $1.67 billion, and mobile phone exports fell by 6.2% to $1.45 billion. Communications equipment exports fell by 3.8% to two billion dollars.
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