Semiconductors, Displays, Smartphones Drive Growth

Korea's ICT exports grew for the sixth consecutive month in November.

Korea extended its ICT export growth streak to six months in November. In particular, exports of three key items -- semiconductors, displays and mobile phones -- increased simultaneously for the first time since the outbreak of COVID-19.

ICT exports stood at US$16.56 billion in November, up 15.8 percent from the same month of a year earlier, said a report released by the Ministry of Trade, Industry and Energy on Dec. 15.

ICT exports have been on the rise for six consecutive months since ICT trade turned to positive territory in June. The average daily exports based on the number of working days also climbed 18.3 percent on year. Imports swelled 14.2 percent on year to US$10.38 billion, so the ICT trade surplus was estimated at US$6.18 billion.


Exports of semiconductors with the largest volume among ICT export items rose 16.1 percent on year to US$8.67 billion. They have been on the rise for five consecutive months since July (5.2 percent). Exports of memory semiconductors and system semiconductors grew 7.3 percent and 39.2 percent, respectively. Exports of system semiconductors (US$2.98 billion) reached the highest monthly amount since 1996.

Exports of displays jumped 27.7 percent to US$2.18 billion. Increases in unit prices of liquid crystal displays (LCD) and demand for mobile devices increased fueled exports of OLED panels and parts.

Exports of mobile phones which are the top three ICT export items along with semiconductors and displays increased 24.9 percent (US$1.28 billion), turning for an increase for the first time in four months. Exports of finished products and parts ballooned 20.9 percent and 26.9 percent, respectively. Exports of computers and peripherals also spiked 4.7 percent.


By region, ICT exports to major regions all increased. ICT exports to China rose 8.1 percent, those to Vietnam 35.2 percent, those to the United States 19.4 percent and those to the European Union 19.4 percent. Chine accounts for about half of Korea’s ICT exports. However, exports to Japan shrank 13.8 percent on year to US$330 million.

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