$42.71 billion in value of Korean IT exports during April
SEOUL, May 14 (WAM) – Information and communications technology exports in the Republic of Korea witnessed a sharp increase, driven by strong demand for semiconductors amid the artificial intelligence boom, as they rose by 125.9% on an annual basis to $42.71 billion during the month of April, exceeding $40 billion for the second month in a row, according to data issued today, Thursday, by the Korean Ministry of Science, Information Technology and Communications.
The Korean Yonhap News Agency reported that this number represents the largest year-on-year increase in percentage terms, and the second largest exports in value, since the ministry began collecting relevant data.
The data showed that imports increased by 33.3% on an annual basis to $16.16 billion last month, leading to a trade surplus of $26.55 billion in this sector.
The ministry said, in a statement, that ICT exports constituted 49.7% of the country’s total exports of $85.89 billion last month, continuing to lead exports.
The data indicated that semiconductor exports jumped by 173.3% to $31.9 billion during the aforementioned period, as high demand for memory chips continued thanks to continued investment in artificial intelligence.
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