Korea’s ICT exports jump 78.5% in January
SEOUL, February 12, 2017 (WAM) – The Republic of Korea’s exports of information and communications technology products jumped by 78% year-on-year last January, driven by global demand for artificial intelligence infrastructure projects, according to data issued by the Korean Ministry of Science, Information and Communications Technology, today, Thursday.
The Korean Yonhap News Agency reported that data showed that ICT exports recorded $29 billion in January, compared to $16.2 billion recorded during the same period of the previous year. This represents the highest number for any month of January.
Imports rose by 20% to $14 billion, resulting in a trade surplus of $14.9 billion.
The ministry said that the sharp increase in this sector is due to the rapid expansion of the global artificial intelligence industry, which has led to high demand for high-performance ICT products.
The data showed that information and communications technology products constituted 44.1% of the country’s total monthly exports of $65.8 billion in January, while semiconductor exports more than doubled year-on-year in January, rising to $20.5 billion.
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