SEOUL: The Republic of Korea’s exports of information and communication technology (ICT) products rose for the eighth consecutive month in June, thanks to solid demand for chips, Yonhap News Agency reported on Monday.
Outbound shipments of ICT products came to US$21.05 billion last month, up 31.1 percent from $16.06 billion a year earlier, according to data compiled by the Ministry of Science and ICT.
Imports of ICT products fell 5.1 percent on-year to $10.87 billion, resulting in a trade surplus of $10.18 billion in the sector.
For the first half, the country’s ICT exports reached $108.9 billion, the second-highest figure for the period, by growing 28.2 percent from a year ago.
ICT imports edged down 0.7 percent on-year to $67.78 billion in the first half, leading to a trade surplus of $41.07 billion.
By item, chip exports surged 49.4 percent on-year to a record $13.44 billion in June on robust global chip demand led by the growth of the artificial intelligence market and the recovery of the IT device m
arket.
Overseas sales of displays climbed 22.6 percent to $1.95 billion, posting a double-digit increase for the fifth straight month, on the recovery of demand for organic light emitting diode and liquid crystal display panels.
Exports of mobile phones expanded 8 percent on-year to $840 million, and outbound shipments of computers and peripherals jumped 48.9 percent to $1.29 billion, but exports of communications equipment dropped 8.6 percent to $200 million.
Source: Emirates News Agency
