South Korea`s ICT exports surge 14 pc in September on record semiconductor shipments
Exports of South Korean information and communication technology (ICT) products jumped 14 per cent from a year earlier in September on the record-high performance of semiconductors, data showed on Tuesday.
Outbound shipments of ICT products reached $25.43 billion last month, according to the data compiled by the Ministry of Science and ICT, reports Yonhap news agency.
It marks the highest export volume for any September.
Imports gained 10.4 per cent on-year to $13.78 billion, resulting in a trade surplus of $11.65 billion in the sector.
The ministry attributed the sharp increase in exports to record shipments of semiconductors, which spiked 21.9 per cent on-year to $16.62 billion on higher memory chip prices amid growing investments in artificial intelligence (AI) servers by global companies.
Exports of display products gained 1.3 per cent on-year to $1.92 billion in the month, buoyed by strong organic light-emitting diode (OLED) demand, it added.
In contrast, exports of computers and peripheral devices fell 10.1 per cent to $1.47 billion due to base effects from last year's surge of AI data centre-related solid state drive (SSD) products.
In the mobile phone sector, tough competition among parts makers led to a 23.6 per cent drop in parts exports to $1.07 billion. However, exports of finished mobile phones jumped 55.8 per cent to $420 million, which helped reduce the overall decline.
Exports of computers and related devices fell 10.1 per cent to $1.47 billion because of last year’s strong demand for solid state drives (SSDs) used in AI data centers.
Still, SSD exports to the Netherlands -- one of Europe’s major data center hubs -- rose sharply by 69.2 per cent, partly making up for the loss.
Among export destinations, Taiwan saw the biggest growth. Shipments to Taiwan surged 53.5 per cent from a year earlier to $4.29 billion, mainly due to higher semiconductor exports.
Overall, ICT imports rose 10.4 per cent in September to $13.78 billion, bringing the trade surplus in the sector to $11.65 billion -- the second-highest level ever recorded.
