S. Korea's ICT exports rise for 4th month in Feb.
SEOUL, March 15 (Yonhap) -- South Korean exports of information and communications technology (ICT) products increased for the fourth month in a row in February on brisk overseas sales of semiconductors and displays, government data showed Wednesday.
Overseas shipments of ICT products surged 22.8 percent on-year to US$14.06 billion last month, exceeding the $14 billion mark for the first time in February, according to the data compiled by the Ministry of Trade, Industry and Energy.
ICT imports increased 6 percent on-year to $7.29 billion last month, with the country logging a trade surplus of $6.77 billion in the sector.
The ministry said rising overseas demand for South Korean semiconductors, displays and computers drove the surge in ICT exports, offsetting weak exports of mobile phones.
Outbound shipments of semiconductors made by Asia's fourth-largest economy soared 56.6 percent on-year to a record monthly high of $6.5 billion in February.
Exports of displays climbed 15.5 percent on-year to $2.23 billion, with those of computers and computer equipment soaring 22.9 percent to $660 million.
Overseas sales of mobile phones and parts tumbled 25.9 percent on-year to $1.5 billion last month, extending their losing streak to 11 months running. The drop was attributed to stiffer global competition and a lack of flagship devices launched by domestic makers.
By region, shipments to China and Hong Kong jumped 34.1 percent on-year in February, with exports to the European Union and Vietnam rising 37.9 percent and 27 percent, respectively. Exports to the United States tumbled 17 percent due to decreased shipments of mobile phones.
The ministry said the February tally doesn't reflect the impact of China's retaliation against South Korea over its decision to deploy an advanced U.S. missile defense system on its soil, which Beijing insists would threaten its security. In early March, China banned sales of package tours to South Korea in apparent retaliation for Seoul's final selection of the site for the anti-missile system.