Continuing Double-digit Growth: Korea’s ICT Sector Recorded Second-largest Export Volume Last Month | BusinessKorea

Monday, February 26, 2018

The monthly export volume of ICT products increased 25.9% in November from a year earlier.
The monthly export volume of ICT products increased 25.9% in November from a year earlier.
Seoul, Korea
15 December 2017 - 11:15am
Cho Jin-young

It has been found that the total exports from South Korea’s information and communications technology (ICT) sector reached US$18.62 billion last month and the sector’s imports totaled US$9.48 billion during the same period.
 
The monthly export volume, which increased 25.9% from a year earlier, is the second-largest in history, behind US$19.26 billion in September this year. The monthly export volume showed a double-digit year-on-year growth for the 12th consecutive month.
 
Last month, mobile phone exports fell 21.3% to US$1.93 billion as South Korean manufacturers’ facilities in Vietnam and so on procured more locally produced components. Still, finished product exports increased 24.8% to US$800 million.

Semiconductor exports jumped 68.5% to US$9.76 billion, remaining above US$9 billion for the third consecutive month. Memory and system semiconductor exports increased 97.7% and 28.6% to US$6.88 billion and US$2.25 billion, respectively.

Display exports totaled US$2.57 billion, showing little increase from a year ago, while computer and peripheral exports rose 19.8% to US$910 million.

By destination, exports to China went up by 30.9% to US$10.31 billion and those to Vietnam went up by 72.8% to US$2.38 billion. The sector’s imports increased 17.1% from a year earlier last month.

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