KOREAN NET

The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT on April 15 said information and communications technology (ICT) exports last month reached USD 20.58 billion in releasing data such overseas shipments in March. (Yeosu Gwangyang Port Authority)

By Margareth Theresia

Information and communications technology (ICT) exports reached USD 20.58 billion last month thanks to recovery in demand for semiconductors and displays.

The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT on April 15 released data on ICT trade trends in March saying exports in the sector grew 9.4% year on year to USD 20.58 billion. Imports of USD 12.21 billion resulted in a trade surplus of USD 8.37 billion for the month.

ICT exports showed clear improvement last month in rising 24% from February and seeing its surplus expand 48.2%. The simultaneous growth of leading items like semiconductors for the first time in eight months indicated recovery in ICT exports, the Trade Ministry said.

By item, exports of semiconductors jumped 11.8%, followed by displays (1.3%), smartphones (14.5%), and computers and perhipherals (28.1%). Those of communications equipment dipped 0.4%.

The rise in semiconductor exports was attributed mainly to the reduction of memory stock and higher demand for high value-added memory items such as high-bandwidth memory and double data rate 5.

For the first time in eight months, display exports grew thanks to preemptive stocking by companies due to the launch of new smartphone products and fears over mutual tariffs with the U.S.

By market, exports to the U.S. jumped 19.4%, Vietnam 14.6% and Japan 3.3%. Those to China including Hong Kong fell 12.2% and the European Union 2.8%.

margareth@korea.kr