S. Korea’s ICT Exports Climb for Fourth Straight Month in May
(MENAFN) South Korea’s exports of information and communications technology (ICT) products climbed for a fourth straight month in May, driven by surging global demand for domestically produced semiconductors, according to government figures released Thursday.
The Ministry of Trade, Industry and Energy reported that ICT exports totaled 20.88 billion U.S. dollars last month, marking a 9.6% year-over-year increase and extending the growth streak that began in February.
Semiconductor shipments were the primary driver of this upswing, soaring 21.2% to 13.80 billion dollars. The surge was fueled by strong demand for advanced memory products like double data rate 5 (DDR5) and high bandwidth memory (HBM), which are key components in generative artificial intelligence (AI) chipsets.
In contrast, display panel exports fell sharply, declining 17.5% to 1.52 billion dollars. However, mobile phone shipments edged up 2.8% to 1.05 billion dollars.
Exports of computers and peripheral devices rose 1.7% to reach 1.20 billion dollars, while communications equipment exports jumped 10.2%, hitting 200 million dollars.
On the import side, South Korea brought in 11.53 billion dollars in ICT products in May—a modest 0.5% increase from a year earlier. Imports of mobile phones and computers grew, but inbound shipments of semiconductors and display panels recorded single-digit declines.
The resulting trade surplus in the ICT sector stood at 9.35 billion dollars.
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