Main Contributor to Export
Semiconductor exports peaked in May, taking the initiative in ICT exports in May. They continued to rise for the seventh consecutive month.
According to a trend in ICT imports and exports announced by the Ministry of Commerce, Industry and Energy on May 14, exports by the ICT industry in May added up to US$15.41billion, up 17.4 percent from the same period last year. May exports hit the highest export volume ever by exceeding exports (US$ 15.33 billion) in May of 2013.
By item, exports of semiconductors stood at US$ 7.6 billion, an increase of 56 percent from the same period last year. Thanks to the highest volume of DRAM and system semiconductor exports, Corporate Korea achieved record-high earnings in May, following March this year.
Display exports also rose 7.6 percent, to US$2.36 billion. They have been rising for seven consecutive months. Computer and peripheral exports also swelled 21.5 percent to US$710 million.
By region, exports to China were US$7.84 billion, up 15.7 percent, while the growth of exports to other major nations such as Vietnam (US$2.2 billion) and the European Union (US$ 799 million) continued.
Imports inflated 13.4 percent to US$7.99 billion, led mainly by semiconductor and display exports. The international balance of payments in the ICT sector was provisionally estimated at US$7.42 billion.