South Korea’s ICT Exports Soar for Third Straight Month
(MENAFN) South Korea's export of information and communications technology (ICT) goods continued its upward trend in April, marking a third consecutive month of growth. Government data released Wednesday revealed that shipments rose by 10.8% year-on-year, reaching $18.92 billion, following modest increases of 0.2% in February and 9.3% in March, according to the Ministry of Trade, Industry, and Energy.
The rise was primarily driven by a significant 17.2% spike in semiconductor exports, which hit $11.68 billion. This growth was fueled by high demand for premium products such as double data rate 5 and high-bandwidth memory chips, key components used in generative AI chipsets.
While export of display panels fell 7.6% to $1.52 billion, mobile phone shipments saw a notable 28.6% increase to $1.19 billion. Exports of computers and peripherals dropped 11.9% to $800 million, but communications equipment saw a slight gain of 3.5%, reaching $200 million.
Exports to the U.S. grew marginally by 0.5%, a significant slowdown compared to March’s 19.4% growth, which followed the implementation of U.S. tariffs. Meanwhile, shipments to Vietnam, the European Union, and India all experienced double-digit increases.
Imports of ICT products declined by 2.4% year-on-year to $11.30 billion, pushing the sector's trade surplus to $7.61 billion. While computer imports rose, those of display panels and communications equipment dropped sharply.
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